BILL (NYSE:BILL) Price Target Cut to $74.00 by Analysts at Robert W. Baird

BILL (NYSE:BILL) had its price target lowered by investment analysts at Robert W. Baird from $78.00 to $74.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 24.14% from the company’s current price.

A number of other research analysts have also commented on BILL. Oppenheimer raised their price objective on shares of BILL from $75.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Citigroup raised their price objective on shares of BILL from $85.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lowered their price objective on shares of BILL from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Piper Sandler lowered their price objective on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $60.00 price objective (down previously from $70.00) on shares of BILL in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.57.

BILL Price Performance

Shares of NYSE:BILL opened at $59.61 on Monday. The firm’s 50 day moving average is $64.57 and its two-hundred day moving average is $73.94. BILL has a 52 week low of $51.94 and a 52 week high of $139.50. The firm has a market capitalization of $6.27 billion, a P/E ratio of -55.19, a PEG ratio of 80.23 and a beta of 1.66. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.26. BILL had a negative net margin of 9.67% and a positive return on equity of 0.29%. The company had revenue of $318.50 million for the quarter, compared to analyst estimates of $296.62 million. Analysts anticipate that BILL will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Germaine Cota sold 920 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the transaction, the senior vice president now owns 5,093 shares of the company’s stock, valued at approximately $332,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On BILL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BILL. Coatue Management LLC acquired a new position in BILL in the 4th quarter worth approximately $163,218,000. Norges Bank acquired a new stake in shares of BILL during the 4th quarter valued at $95,702,000. Lone Pine Capital LLC boosted its stake in shares of BILL by 39.7% during the 3rd quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after buying an additional 723,151 shares during the period. Contour Asset Management LLC acquired a new stake in shares of BILL during the 4th quarter valued at $49,509,000. Finally, Gotham Asset Management LLC boosted its stake in shares of BILL by 14,421.8% during the 4th quarter. Gotham Asset Management LLC now owns 508,408 shares of the company’s stock valued at $41,481,000 after buying an additional 504,907 shares during the period. Institutional investors and hedge funds own 97.99% of the company’s stock.

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.