BILL (NYSE:BILL) Price Target Raised to $77.00

BILL (NYSE:BILL) had its target price lifted by The Goldman Sachs Group from $60.00 to $77.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on BILL. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a research report on Thursday, September 12th. Piper Sandler boosted their price target on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Wells Fargo & Company cut their price target on shares of BILL from $60.00 to $45.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 20th. Wolfe Research downgraded BILL from an “outperform” rating to a “peer perform” rating in a research report on Thursday, August 1st. Finally, Mizuho lowered their price target on BILL from $60.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.65.

BILL Stock Performance

Shares of BILL stock traded down $2.30 during midday trading on Tuesday, hitting $84.08. The company had a trading volume of 204,077 shares, compared to its average volume of 1,921,346. BILL has a 12-month low of $43.11 and a 12-month high of $91.19. The company has a quick ratio of 1.55, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of -261.76 and a beta of 1.59. The company has a fifty day simple moving average of $58.11 and a 200 day simple moving average of $54.36.

BILL (NYSE:BILL) last posted its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a net margin of 0.59% and a return on equity of 1.54%. The firm had revenue of $343.67 million during the quarter, compared to analyst estimates of $328.27 million. During the same period in the previous year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, analysts predict that BILL will post -0.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO John R. Rettig bought 21,124 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the acquisition, the chief financial officer now owns 80,474 shares in the company, valued at $3,975,415.60. This represents a 35.59 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $54.75, for a total value of $43,964.25. Following the transaction, the senior vice president now owns 6,861 shares of the company’s stock, valued at $375,639.75. This represents a 10.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 68,372 shares of company stock worth $3,404,826 and sold 6,112 shares worth $398,910. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BILL

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in BILL by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock worth $685,573,000 after acquiring an additional 94,786 shares in the last quarter. Abdiel Capital Advisors LP increased its holdings in shares of BILL by 48.2% during the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after acquiring an additional 1,666,316 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in BILL by 70.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after purchasing an additional 279,256 shares during the period. Finally, Kodai Capital Management LP bought a new stake in shares of BILL in the 1st quarter worth approximately $59,341,000. 97.99% of the stock is owned by hedge funds and other institutional investors.

About BILL

BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management products, which allow users to automate accounts payable and accounts receivable transactions, as well as enable users to connect with their suppliers and/or customers to do business, eliminate expense reports, manage cash flows, and improve office efficiency.