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Investing.com — BigCommerce shares more than tripled on their first trading day, and were halted twice on volatility.
The initial public offering priced at $24, above the expected range of $18 to $20, and is now trading above $90 in the afternoon session. The e-commerce business is getting crowded, as Bigcommerce Holdings Inc (NASDAQ:BIGC) joins Shopify Inc (NYSE:SHOP), which has more than doubled this year to trade above $1,000.
For merchants looking at where and how to sell their wares, they can also tap Amazon.com Inc (NASDAQ:AMZN), eBay Inc (NASDAQ:EBAY), and Etsy Inc (NASDAQ:ETSY), among other online marketplaces.
BigCommerce has a way to go to catch up with its rivals. Revenue in the second quarter is estimated at between $35.5 million and $35.8 million. That compares to Shopify’s $714.3 million in sales for the second quarter.
Last week, Shopify reported quarterly earnings that beat estimates, with earnings per share of $1.05 compared to the average analyst forecast of 1 cent. Amazon also blasted through expectations when it reported last week, with earnings per share of $10.30 compared to the average forecast of $1.48. Rival eBay bested forecasts, but by a smaller margin, with EPS of $1.08 versus the expected $1.05.
Etsy reports results after the close on Wednesday.
