BIGC - BigCommerce initiated at Overweight at Piper on 'strong secular tailwinds'

Citing the company's "compelling" growth prospects, Piper Sandler starts BigCommerce (BIGC) at Overweight with an $83 price target.Analyst Brent Bracelin sees strong growth over the next five years, driven by the "new class of SaaS" business model with the high-margin subscription and digital payment revenue streams.Bracelin says the premium is justified by the "strong secular tailwinds" from the e-commerce shift.BIGC shares are up 3% pre-market to $69.60.BigCommerce has a Neutral average Wall Street analysts rating with an $86.50 price target.

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BigCommerce initiated at Overweight at Piper on 'strong secular tailwinds'