Oppenheimer Trims BILL (NYSE:BILL) Target Price to $70.00

BILL (NYSE:BILL) had its price objective reduced by Oppenheimer from $95.00 to $70.00 in a report issued on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on the stock. William Blair restated a market perform rating on shares of BILL in a research report on Friday, May 3rd. Jefferies Financial Group cut their price objective on shares of BILL from $95.00 to $80.00 and set a buy rating for the company in a research report on Monday, April 29th. Needham & Company LLC restated a buy rating and set a $100.00 price objective on shares of BILL in a research report on Monday, June 10th. Canaccord Genuity Group restated a buy rating and set a $100.00 price objective on shares of BILL in a research report on Friday, May 3rd. Finally, Mizuho dropped their price target on shares of BILL from $65.00 to $60.00 and set a neutral rating for the company in a research report on Monday, May 6th. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $87.94.

BILL Trading Down 5.5 %

BILL stock opened at $50.85 on Monday. BILL has a 52 week low of $45.90 and a 52 week high of $127.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $5.40 billion, a P/E ratio of -64.37 and a beta of 1.61. The stock has a 50-day simple moving average of $51.94 and a 200 day simple moving average of $61.44.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.17. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The business had revenue of $323.03 million during the quarter, compared to analysts’ expectations of $305.23 million. Analysts expect that BILL will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.60, for a total transaction of $134,985.60. Following the completion of the transaction, the insider now directly owns 9,126 shares in the company, valued at $470,901.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Germaine Cota sold 642 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $51.59, for a total transaction of $33,120.78. Following the completion of the transaction, the senior vice president now directly owns 6,057 shares in the company, valued at $312,480.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rajesh A. Aji sold 2,616 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $51.60, for a total transaction of $134,985.60. Following the transaction, the insider now owns 9,126 shares of the company’s stock, valued at $470,901.60. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of BILL

A number of institutional investors and hedge funds have recently bought and sold shares of BILL. Coatue Management LLC acquired a new stake in BILL in the fourth quarter valued at $163,218,000. Norges Bank acquired a new stake in BILL during the 4th quarter worth about $95,702,000. Kodai Capital Management LP acquired a new stake in BILL during the 1st quarter worth about $59,341,000. Contour Asset Management LLC acquired a new stake in BILL during the 4th quarter worth about $49,509,000. Finally, Gotham Asset Management LLC grew its holdings in BILL by 14,421.8% during the 4th quarter. Gotham Asset Management LLC now owns 508,408 shares of the company’s stock worth $41,481,000 after acquiring an additional 504,907 shares during the period. 97.99% of the stock is currently 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.