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

BILL (NYSE:BILL) had its price target lowered by Mizuho from $65.00 to $60.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

BILL has been the subject of a number of other research reports. Wells Fargo & Company restated an underweight rating and issued a $60.00 target price (down previously from $70.00) on shares of BILL in a report on Monday, April 1st. Piper Sandler dropped their price target 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. BNP Paribas raised shares of BILL from an underperform rating to a neutral rating and set a $72.00 price target on the stock in a research note on Wednesday, March 13th. Needham & Company LLC reaffirmed a buy rating and issued a $100.00 price target on shares of BILL in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. dropped their price target 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $97.35.

BILL Price Performance

BILL opened at $56.29 on Monday. The stock has a fifty day moving average of $63.88 and a 200-day moving average of $69.81. The firm has a market capitalization of $5.92 billion, a P/E ratio of -71.25, a PEG ratio of 62.44 and a beta of 1.68. BILL has a 12-month low of $51.94 and a 12-month high of $139.50. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43.

BILL (NYSE:BILL) last released its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $318.50 million during the quarter, compared to analyst estimates of $296.62 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. Equities analysts forecast that BILL will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, SVP Germaine Cota sold 920 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 5,093 shares in the company, valued at $332,776.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BILL

Several hedge funds have recently made changes to their positions in the stock. Hohimer Wealth Management LLC bought a new stake in shares of BILL in the first quarter valued at about $1,633,000. Illinois Municipal Retirement Fund bought a new stake in shares of BILL in the first quarter valued at about $804,000. SG Americas Securities LLC bought a new position in BILL during the first quarter worth about $304,000. Quantbot Technologies LP lifted its stake in BILL by 216.0% during the first quarter. Quantbot Technologies LP now owns 8,056 shares of the company’s stock worth $554,000 after purchasing an additional 5,507 shares during the period. Finally, Manchester Capital Management LLC lifted its stake in BILL by 22,727.9% during the first quarter. Manchester Capital Management LLC now owns 9,816 shares of the company’s stock worth $675,000 after purchasing an additional 9,773 shares during the period. 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.