The Goldman Sachs Group Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL) had its target price raised by stock analysts at The Goldman Sachs Group from $60.00 to $77.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 13.06% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Mizuho dropped their target price on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. BMO Capital Markets lowered their price objective on BILL from $75.00 to $57.00 and set a “market perform” rating on the stock in a report on Monday, August 26th. Piper Sandler lifted their target price on shares of BILL from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird increased their price target on shares of BILL from $62.00 to $74.00 and gave the company a “neutral” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price objective on BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, BILL currently has a consensus rating of “Hold” and a consensus target price of $74.65.

BILL Stock Performance

Shares of BILL traded up $2.68 during midday trading on Tuesday, hitting $88.57. 1,525,225 shares of the stock traded hands, compared to its average volume of 1,912,614. BILL has a 1-year low of $43.11 and a 1-year high of $89.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $9.17 billion, a PE ratio of -268.24 and a beta of 1.59. The business’s 50 day moving average price is $56.08 and its two-hundred day moving average price is $53.70.

BILL (NYSE:BILL) last released its earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. BILL had a return on equity of 1.53% and a net margin of 0.59%. BILL’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Equities research analysts predict that BILL will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO John R. Rettig bought 21,124 shares of the company’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the completion of the purchase, the chief financial officer now owns 80,474 shares in the company, valued at approximately $3,975,415.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Rene A. Lacerte purchased 42,248 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $49.60 per share, for a total transaction of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now directly owns 184,249 shares in the company, valued at approximately $9,138,750.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John R. Rettig purchased 21,124 shares of the business’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the transaction, the chief financial officer now directly owns 80,474 shares in the company, valued at approximately $3,975,415.60. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 68,372 shares of company stock worth $3,404,826 and have sold 3,808 shares worth $209,866. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BILL. Telemark Asset Management LLC acquired a new stake in BILL during the third quarter worth approximately $7,914,000. Charles Schwab Investment Management Inc. increased its position in BILL by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after acquiring an additional 279,256 shares during the period. Advisors Asset Management Inc. raised its stake in shares of BILL by 30.8% during the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock valued at $58,000 after acquiring an additional 259 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BILL by 531.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 152,282 shares of the company’s stock worth $8,034,000 after purchasing an additional 128,148 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of BILL in the third quarter worth $2,428,000. 97.99% of the stock is owned by institutional investors.

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.