BNP Paribas Upgrades BILL (NYSE:BILL) to Outperform

BNP Paribas upgraded shares of BILL (NYSE:BILL) from a neutral rating to an outperform rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has $90.00 target price on the stock.

A number of other analysts also recently commented on the company. Piper Sandler upped their target price on BILL from $59.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. The Goldman Sachs Group lowered shares of BILL from a buy rating to a neutral rating and cut their target price for the company from $86.00 to $54.00 in a report on Friday, August 23rd. JPMorgan Chase & Co. lowered their price target on shares of BILL from $80.00 to $60.00 and set an overweight rating on the stock in a report on Tuesday, August 20th. Robert W. Baird cut their price objective on shares of BILL from $68.00 to $60.00 and set a neutral rating for the company in a report on Friday, August 23rd. Finally, Canaccord Genuity Group reissued a buy rating and set a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BILL presently has a consensus rating of Hold and an average target price of $70.24.

BILL Stock Up 0.1 %

BILL stock opened at $51.91 on Thursday. The business’s 50-day simple moving average is $51.18 and its two-hundred day simple moving average is $55.97. 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 company has a market cap of $5.51 billion, a PE ratio of -65.71 and a beta of 1.61. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $118.69.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. The company had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. BILL’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Equities analysts anticipate that BILL will post -0.58 EPS for the current year.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.75, for a total transaction of $43,964.25. Following the transaction, the senior vice president now owns 6,861 shares of the company’s stock, valued at approximately $375,639.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other BILL news, CFO John R. Rettig acquired 21,124 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought 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 owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Germaine Cota sold 803 shares of BILL stock in a transaction on Friday, August 30th. The shares were sold at an average price of $54.75, for a total value of $43,964.25. Following the completion of the sale, the senior vice president now owns 6,861 shares in the company, valued at approximately $375,639.75. The disclosure for this sale can be found here. In the last ninety days, insiders bought 68,372 shares of company stock valued at $3,404,826. 3.80% of the stock is owned by insiders.

Institutional Trading of BILL

Hedge funds and other institutional investors have recently modified their holdings of the business. Coatue Management LLC acquired a new stake in shares of BILL during the fourth quarter valued at about $163,218,000. Norges Bank acquired a new stake in BILL in the 4th quarter valued at approximately $95,702,000. Abdiel Capital Advisors LP raised its position in BILL by 46.4% in the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after purchasing an additional 1,095,396 shares during the period. Kodai Capital Management LP acquired a new position in BILL during the first quarter worth $59,341,000. Finally, Contour Asset Management LLC purchased a new position in shares of BILL during the fourth quarter worth $49,509,000. 97.99% of the stock is owned by institutional investors and hedge funds.

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.