BILL (NYSE:BILL) Price Target Increased to $60.00 by Analysts at The Goldman Sachs Group

BILL (NYSE:BILL) had its target price raised by research analysts at The Goldman Sachs Group from $54.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 6.55% from the company’s current price.

A number of other equities analysts have also commented on BILL. Mizuho decreased their price target on shares of BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of BILL in a report on Friday, August 23rd. Oppenheimer decreased their price target on shares of BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $70.59.

BILL Price Performance

NYSE BILL traded up $0.49 on Monday, hitting $56.31. The stock had a trading volume of 302,671 shares, compared to its average volume of 1,939,637. BILL has a 52-week low of $43.11 and a 52-week high of $113.57. 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 capitalization of $5.98 billion, a price-to-earnings ratio of -71.28 and a beta of 1.61. The firm has a 50-day moving average of $51.62 and a 200-day moving average of $54.15.

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

Insider Buying and Selling at BILL

In other news, Director Brian Jacobs purchased 5,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $53.16 per share, with a total value of $265,800.00. Following the transaction, the director now directly owns 9,559 shares of the company’s stock, valued at approximately $508,156.44. This represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Brian Jacobs bought 5,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $53.16 per share, with a total value of $265,800.00. Following the transaction, the director now owns 9,559 shares in the company, valued at approximately $508,156.44. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rene A. Lacerte bought 42,248 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was bought at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the transaction, the chief executive officer now 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 disclosure for this purchase can be found here. Insiders bought 68,372 shares of company stock valued at $3,404,826 in the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On BILL

Several institutional investors and hedge funds have recently modified their holdings of BILL. DekaBank Deutsche Girozentrale lifted its position in BILL by 4.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,749 shares of the company’s stock valued at $449,000 after acquiring an additional 257 shares during the period. Advisors Asset Management Inc. lifted its position in BILL by 75.0% during the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after acquiring an additional 295 shares during the period. Institute for Wealth Management LLC. lifted its position in BILL by 4.4% during the 2nd quarter. Institute for Wealth Management LLC. now owns 7,670 shares of the company’s stock valued at $404,000 after acquiring an additional 322 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in BILL by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after acquiring an additional 700 shares during the period. 97.99% of the stock is owned by hedge funds and other 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.