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BigCommerce gains bear at Citi on valuation, competition concerns

Nov. 13, 2020 8:27 AM ETBIGCBy: Brandy Betz, SA News Editor10 Comments

  • Citing the “lofty” valuation, Citi starts BigCommerce (NASDAQ:BIGC) with a Sell rating and $65 price target, an 11% downside to yesterday’s close.
  • Analyst Drew Foster: “While growing into lofty valuations is not an infrequent outcome for software IPOs, we project eventual growth rate will likely fall short of what is embedded in the stock at these levels.”
  • The analyst sees BigCommerce serving the small- and mid-sized enterprise market, where the company could face tough long-term competitive pressure.

If it goes to Reverted Mean of $86 thats 30% on your Money

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