BILL (NYSE:BILL) Price Target Cut to $60.00

BILL (NYSE:BILL) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $70.00 to $60.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 18.11% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Mizuho dropped their target price on BILL from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $60.00 price target (down from $70.00) on shares of BILL in a research note on Monday, April 1st. BMO Capital Markets reduced their price objective on BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. William Blair reaffirmed a “market perform” rating on shares of BILL in a research report on Friday, May 3rd. Finally, Piper Sandler reduced their price target on BILL from $95.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, BILL presently has an average rating of “Moderate Buy” and an average target price of $91.00.

BILL Trading Down 1.7 %

Shares of BILL opened at $50.80 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a 1-year low of $45.90 and a 1-year high of $139.50. The stock has a market capitalization of $5.39 billion, a P/E ratio of -64.30 and a beta of 1.61. The business’s 50-day moving average price is $53.18 and its 200 day moving average price is $63.39.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.17. BILL had a negative net margin of 4.21% and a positive return on equity of 0.98%. The business had revenue of $323.03 million for the quarter, compared to analyst estimates of $305.23 million. Analysts expect that BILL will post -0.19 earnings per share for the current year.

Insider Activity at BILL

In other news, insider Rajesh A. Aji sold 2,616 shares of BILL stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the sale, the insider now owns 9,126 shares of the company’s stock, valued at approximately $470,901.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Germaine Cota sold 642 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.59, for a total value of $33,120.78. Following the sale, the senior vice president now owns 6,057 shares of the company’s stock, valued at approximately $312,480.63. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the sale, the insider now directly owns 9,126 shares in the company, valued at approximately $470,901.60. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of institutional investors and hedge funds have recently bought and sold shares of BILL. Coatue Management LLC acquired a new position in shares of BILL during the fourth quarter valued at $163,218,000. Norges Bank bought a new stake in shares of BILL during the fourth quarter worth approximately $95,702,000. Kodai Capital Management LP acquired a new position in BILL in the first quarter valued at approximately $59,341,000. Contour Asset Management LLC acquired a new position in shares of BILL in the 4th quarter valued at $49,509,000. Finally, Gotham Asset Management LLC boosted its position in shares of BILL by 14,421.8% in the 4th 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 during the last quarter. 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.