BIGC - BigCommerce upgraded to outperform at Wedbush sees 30% upside

E-commerce company BigCommerce (NASDAQ:BIGC) is being upgraded at Wedbush Securities, as the research firm believes the recent pullback in the stock has created a "strong buying opportunity," citing a decoupling from the long-term opportunity for the company and some near-term analysts. Analyst Ygal Arounian raised his rating on BigCommerce (BIGC) to outperform from neutral, but lowered his price target to $50 from $60, as he believes the Austin, Texas-based company is about to lap difficult comps starting in the first-quarter next year, "which should lead to accelerating growth rates again, particularly in [partner and services revenue]". BigCommerce (BIGC) shares are up more than 3% in early Wednesday trading to $39.60, but have fallen more than 34% year-to-date. Arounian said as the calendar turns to 2022, BigCommerce (BIGC) has an "under-appreciated" long-term growth opportunity, given that management consistently provides conservative guidance - which is routinely beaten - and growth estimates for

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BigCommerce upgraded to outperform at Wedbush, sees 30% upside