BILL (NYSE:BILL) PT Lowered to $60.00

BILL (NYSE:BILL) had its price objective dropped by equities researchers at Mizuho from $65.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential upside of 6.04% from the stock’s previous close.

Several other research analysts have also issued reports on BILL. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday. Jefferies Financial Group reduced their price target on shares of BILL from $95.00 to $80.00 and set a “buy” rating for the company in a report on Monday, April 29th. Oppenheimer lifted their price target 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. Piper Sandler cut their price objective on shares of BILL from $95.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $60.00 target price (down from $70.00) on shares of BILL in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.35.

BILL Stock Down 10.6 %

NYSE:BILL opened at $56.58 on Monday. The firm’s 50 day simple moving average is $64.16 and its 200 day simple moving average is $70.44. BILL has a one year low of $51.94 and a one year high of $139.50. 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 earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.26. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The business had revenue of $318.50 million during the quarter, compared to analyst estimates of $296.62 million. On average, equities analysts anticipate that BILL will post 0.04 EPS for the current fiscal year.

Insider Activity at BILL

In related news, SVP Germaine Cota sold 920 shares of BILL 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 directly owns 5,093 shares in the company, valued at approximately $332,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

BILL Company Profile

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.