BILL (NYSE:BILL) Given New $50.00 Price Target at Truist Financial

BILL (NYSE:BILL) had its price target hoisted by research analysts at Truist Financial from $47.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 9.03% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of BILL from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group decreased their price objective on shares of BILL from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Mizuho decreased their price objective on shares of BILL from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, May 12th. Canaccord Genuity Group reduced their target price on shares of BILL from $105.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of BILL from $77.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, ten have given 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 “Hold” and a consensus price target of $62.10.

BILL Stock Down 3.3%

BILL stock opened at $45.86 on Thursday. BILL has a 1-year low of $36.55 and a 1-year high of $100.19. The business has a fifty day moving average price of $45.35 and a 200-day moving average price of $54.87. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market capitalization of $4.72 billion, a P/E ratio of -382.13, a P/E/G ratio of 10.03 and a beta of 1.35.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.13. BILL had a return on equity of 1.21% and a net margin of 2.70%. The firm had revenue of $358.22 million during the quarter, compared to analysts’ expectations of $355.85 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Equities analysts forecast that BILL will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Germaine Cota sold 1,718 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the completion of the sale, the senior vice president owned 9,512 shares in the company, valued at approximately $404,735.60. This trade represents a 15.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajesh A. Aji sold 1,780 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $45.25, for a total transaction of $80,545.00. Following the completion of the sale, the insider owned 9,298 shares of the company’s stock, valued at $420,734.50. This trade represents a 16.07% decrease in their position. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BILL

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. raised its holdings in shares of BILL by 1.6% in the 1st quarter. Xponance Inc. now owns 13,902 shares of the company’s stock valued at $638,000 after purchasing an additional 222 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of BILL by 202.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 369 shares of the company’s stock valued at $32,000 after purchasing an additional 247 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of BILL in the 4th quarter valued at about $30,000. Quarry LP raised its stake in shares of BILL by 85.9% during the 1st quarter. Quarry LP now owns 766 shares of the company’s stock worth $35,000 after acquiring an additional 354 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of BILL by 73.6% during the 1st quarter. Brooklyn Investment Group now owns 889 shares of the company’s stock worth $41,000 after acquiring an additional 377 shares in the last quarter. Institutional investors 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.