BigCommerce Holdings, Inc.

NasdaqGM:BIGC Stock Report

Market Cap: US$535.3m

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 ($6.83) is trading below our estimate of fair value ($10.65)

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 Ratio1.6x
SalesUS$330.05m
Market CapUS$535.34m

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 Average2.1x
RXT Rackspace Technology
0.2x0.7%US$587.1m
FSLY Fastly
2x8.0%US$1.1b
BASE Couchbase
5.4x14.4%US$1.1b
VNET VNET Group
0.9x10.2%US$1.0b
BIGC BigCommerce Holdings
1.6x5.6%US$535.3m

Price-To-Sales vs Peers: BIGC is good value based on its Price-To-Sales Ratio (1.6x) compared to the peer average (2.1x).

Price to Sales Ratio vs Industry

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

27 CompaniesPrice / SalesEstimated GrowthMarket Cap
KD Kyndryl Holdings
0.5x1.6%US$7.68b
DXC DXC Technology
0.3x-1.9%US$4.04b
RXT Rackspace Technology
0.2x0.7%US$587.13m
UIS Unisys
0.3x3.4%US$568.08m
BIGC 1.6xIndustry Avg. 2.3xNo. of Companies27PS02.44.87.29.612+
27 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BIGC is good value based on its Price-To-Sales Ratio (1.6x) compared to the US IT industry average (2.1x).

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 Ratio1.6x
Fair PS Ratio2.4x

Price-To-Sales vs Fair Ratio: BIGC is good value based on its Price-To-Sales Ratio (1.6x) compared to the estimated Fair Price-To-Sales Ratio (2.4x).

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$6.83
US$8.30
+21.5%
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$8.00n/a12
Dec ’24US$9.34
US$11.27
+20.7%
23.9%US$20.00US$8.00n/a13
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
Dec ’23US$9.44
US$17.17
+81.9%
18.5%US$23.00US$11.00US$9.3412
Nov ’23US$14.78
US$25.08
+69.7%
22.9%US$40.00US$18.00US$8.8712

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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