BigCommerce Holdings, Inc.

NasdaqGM:BIGC Stock Report

Market Cap: US$479.7m

BigCommerce Holdings Valuation

Is BIGC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BIGC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BIGC ($6.18) is trading below our estimate of fair value ($10.29)

Significantly Below Fair Value: BIGC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BIGC?

Key metric: As BIGC is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BIGC. This is calculated by dividing BIGC's market cap by their current revenue.
What is BIGC's PS Ratio?
PS Ratio1.5x
SalesUS$330.05m
Market CapUS$479.69m

Price to Sales Ratio vs Peers

How does BIGC's PS Ratio compare to its peers?

The above table shows the PS ratio for BIGC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
RXT Rackspace Technology
0.2x0.4%US$502.9m
BLZE Backblaze
2.5x13.4%US$304.9m
BASE Couchbase
4x13.6%US$816.1m
VNET VNET Group
1.2x9.7%US$1.3b
BIGC BigCommerce Holdings
1.5x5.6%US$479.7m

Price-To-Sales vs Peers: BIGC is good value based on its Price-To-Sales Ratio (1.5x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does BIGC's PS Ratio compare vs other companies in the US IT Industry?

21 CompaniesPrice / SalesEstimated GrowthMarket Cap
KD Kyndryl Holdings
0.5x1.6%US$8.04b
DXC DXC Technology
0.3x-2.0%US$3.62b
RXT Rackspace Technology
0.2x0.4%US$502.93m
UIS Unisys
0.2x3.4%US$439.07m
BIGC 1.5xIndustry Avg. 2.8xNo. of Companies21PS02.44.87.29.612+
21 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BIGC is good value based on its Price-To-Sales Ratio (1.5x) compared to the US IT industry average (2.8x).

Price to Sales Ratio vs Fair Ratio

What is BIGC's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BIGC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.5x
Fair PS Ratio2.3x

Price-To-Sales vs Fair Ratio: BIGC is good value based on its Price-To-Sales Ratio (1.5x) compared to the estimated Fair Price-To-Sales Ratio (2.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BIGC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$6.18
US$8.40
+35.9%
17.0%US$11.00US$6.00n/a10
Dec ’25US$7.37
US$8.30
+12.6%
17.9%US$11.00US$6.00n/a10
Nov ’25US$5.26
US$8.70
+65.4%
25.9%US$14.00US$6.00n/a10
Oct ’25US$5.71
US$9.05
+58.5%
23.8%US$14.00US$6.00n/a10
Sep ’25US$5.86
US$9.05
+54.4%
23.8%US$14.00US$6.00n/a10
Aug ’25US$6.84
US$9.45
+38.2%
19.0%US$14.00US$8.00n/a10
Jul ’25US$7.97
US$9.27
+16.3%
19.1%US$14.00US$8.00n/a11
Jun ’25US$8.24
US$9.27
+12.5%
19.1%US$14.00US$8.00n/a11
May ’25US$5.83
US$9.68
+66.1%
20.2%US$14.00US$7.00n/a11
Apr ’25US$6.85
US$10.04
+46.6%
16.1%US$14.00US$7.50n/a12
Mar ’25US$7.81
US$10.33
+32.3%
13.9%US$14.00US$9.00n/a12
Feb ’25US$8.18
US$11.38
+39.1%
24.4%US$20.00US$8.00n/a12
Jan ’25US$9.73
US$11.46
+17.8%
24.0%US$20.00US$8.00US$6.1212
Dec ’24US$9.34
US$11.27
+20.7%
23.9%US$20.00US$8.00US$7.3713
Nov ’24US$8.87
US$12.69
+43.1%
18.6%US$20.00US$10.00US$5.2613
Oct ’24US$9.87
US$12.69
+28.6%
18.6%US$20.00US$10.00US$5.7113
Sep ’24US$10.85
US$12.75
+17.5%
19.2%US$20.00US$10.00US$5.8612
Aug ’24US$10.50
US$10.79
+2.8%
28.5%US$20.00US$8.00US$6.8412
Jul ’24US$9.95
US$10.79
+8.5%
28.5%US$20.00US$8.00US$7.9712
Jun ’24US$8.84
US$10.79
+22.1%
28.5%US$20.00US$8.00US$8.2412
May ’24US$7.48
US$11.96
+59.9%
23.4%US$20.00US$9.50US$5.8312
Apr ’24US$8.94
US$11.96
+33.8%
23.4%US$20.00US$9.50US$6.8512
Mar ’24US$9.38
US$12.05
+28.4%
24.2%US$20.00US$9.50US$7.8111
Feb ’24US$12.59
US$14.29
+13.5%
24.7%US$21.00US$9.50US$8.1812
Jan ’24US$8.74
US$15.54
+77.8%
22.7%US$21.00US$9.50US$9.7312

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 03:26
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

BigCommerce Holdings, Inc. is covered by 25 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Raimo LenschowBarclays
Sunil RajgopalBerenberg
Koji IkedaBofA Global Research