Oppenheimer Cuts BILL (NYSE:BILL) Price Target to $90.00

BILL (NYSE:BILL) had its price objective reduced by analysts at Oppenheimer from $110.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 38.82% from the company’s current price.

Several other equities research analysts also recently issued reports on BILL. Robert W. Baird lifted their price target on shares of BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods decreased their price target on shares of BILL from $95.00 to $77.00 and set a “market perform” rating for the company in a report on Friday. Susquehanna boosted their target price on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and boosted their target price for the company from $96.00 to $104.00 in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, BILL currently has a consensus rating of “Moderate Buy” and an average target price of $82.68.

BILL Trading Down 32.7 %

BILL stock traded down $31.52 during trading on Friday, hitting $64.83. The company had a trading volume of 19,821,984 shares, compared to its average volume of 3,080,473. The company’s 50 day simple moving average is $89.50 and its 200-day simple moving average is $69.34. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of -197.21, a price-to-earnings-growth ratio of 164.86 and a beta of 1.76. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. BILL has a 1-year low of $43.11 and a 1-year high of $100.19.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a net margin of 0.59% and a return on equity of 1.54%. As a group, analysts expect that BILL will post 0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the transaction, the director now owns 259 shares of the company’s stock, valued at approximately $23,310. This trade represents a 75.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BILL. Abdiel Capital Advisors LP boosted its stake in shares of BILL by 48.2% in the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after purchasing an additional 1,666,316 shares during the last quarter. Principal Financial Group Inc. boosted its stake in BILL by 5,201.3% during the 4th quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after acquiring an additional 384,217 shares during the last quarter. Two Sigma Advisers LP boosted its stake in BILL by 87.0% during the 3rd quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after acquiring an additional 321,400 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in BILL by 297.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock worth $20,083,000 after acquiring an additional 284,935 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in BILL by 45.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after acquiring an additional 279,256 shares during the last quarter. 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.