Canaccord Genuity Group Has Lowered Expectations for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its price objective lowered by equities researchers at Canaccord Genuity Group from $105.00 to $75.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 56.41% from the company’s current price.

Several other equities analysts also recently commented on BILL. Needham & Company LLC lowered their price objective on shares of BILL from $100.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Keefe, Bruyette & Woods lowered their price objective on shares of BILL from $77.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, March 31st. UBS Group upped their price objective on shares of BILL from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Oppenheimer upped their price objective on shares of BILL from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Finally, Mizuho lowered their price objective on shares of BILL from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.67.

BILL Stock Performance

NYSE BILL opened at $47.95 on Tuesday. The company has a 50-day simple moving average of $44.66 and a two-hundred day simple moving average of $67.15. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. BILL has a 12-month low of $36.55 and a 12-month high of $100.19. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of -4,795.00, a PEG ratio of 29.46 and a beta of 1.44.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13. BILL had a net margin of 5.90% and a return on equity of 1.53%. The business had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts forecast that BILL will post 0.12 EPS for the current year.

Hedge Funds Weigh In On BILL

A number of institutional investors have recently bought and sold shares of BILL. GAMMA Investing LLC increased its stake in shares of BILL by 74.9% during the fourth quarter. GAMMA Investing LLC now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 131 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of BILL during the fourth quarter valued at approximately $239,000. Gateway Investment Advisers LLC bought a new position in shares of BILL during the fourth quarter valued at approximately $1,832,000. Kera Capital Partners Inc. bought a new position in shares of BILL during the fourth quarter valued at approximately $259,000. Finally, Aaron Wealth Advisors LLC increased its stake in shares of BILL by 10.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 4,618 shares of the company’s stock valued at $391,000 after purchasing an additional 455 shares in the last quarter. 97.99% of the stock is owned by 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.