BILL (NYSE:BILL) Given New $55.00 Price Target at Oppenheimer

BILL (NYSE:BILL) had its price objective raised by Oppenheimer from $50.00 to $55.00 in a report published on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. KeyCorp cut their price target on shares of BILL from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Needham & Company LLC reduced their target price on shares of BILL from $100.00 to $75.00 and set a “buy” rating for the company in a report on Friday. Morgan Stanley lowered their price target on shares of BILL from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler reduced their price objective on BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, BTIG Research assumed coverage on BILL in a report on Wednesday, April 30th. They issued a “buy” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

BILL Trading Down 6.1%

NYSE:BILL opened at $44.66 on Friday. The company has a market capitalization of $4.55 billion, a P/E ratio of -4,466.00, a PEG ratio of 29.46 and a beta of 1.44. The company has a current ratio of 1.66, a quick 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 fifty day simple moving average of $44.69 and a 200-day simple moving average of $67.47.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Groupama Asset Managment lifted its holdings in BILL by 162.8% in the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock valued at $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of BILL by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after buying an additional 1,241,432 shares in the last quarter. Norges Bank acquired a new stake in shares of BILL in the fourth quarter valued at about $99,906,000. Invesco Ltd. lifted its stake in shares of BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock worth $110,269,000 after buying an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of BILL by 112.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock worth $136,421,000 after buying an additional 852,863 shares in the last quarter. Hedge funds and other 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.