Needham & Company LLC Reiterates Buy Rating for BILL (NYSE:BILL)

Needham & Company LLC reiterated their buy rating on shares of BILL (NYSE:BILL) in a report released on Friday morning,Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lowered their price target on shares of BILL from $100.00 to $95.00 and set a “market perform” rating on the stock in a report on Monday, January 6th. Oppenheimer raised their target price on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Robert W. Baird upped their price target on BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Piper Sandler increased their price objective on BILL from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company boosted their target price on BILL from $55.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.95.

BILL Stock Performance

Shares of NYSE:BILL opened at $62.40 on Friday. The firm has a 50 day moving average of $89.50 and a 200 day moving average of $69.34. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of -189.08, a price-to-earnings-growth ratio of 164.86 and a beta of 1.76. BILL has a 52 week low of $43.11 and a 52 week high of $100.19.

BILL (NYSE:BILL) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a return on equity of 1.54% and a net margin of 0.59%. On average, sell-side analysts predict that BILL will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at BILL

In other news, Director Alison Wagonfeld sold 779 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $90.00, for a total value of $70,110.00. Following the completion of the transaction, the director now owns 259 shares of the company’s stock, valued at $23,310. The trade was a 75.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Abdiel Capital Advisors LP boosted its position in BILL by 48.2% in the 3rd quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock worth $270,191,000 after purchasing an additional 1,666,316 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of BILL by 5,201.3% in the 4th quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock valued at $33,173,000 after purchasing an additional 384,217 shares during the period. Two Sigma Advisers LP boosted its holdings in BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock worth $36,447,000 after buying an additional 321,400 shares in the last quarter. Assenagon Asset Management S.A. grew its position in BILL by 297.7% during the third quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after buying an additional 284,935 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in BILL by 45.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock valued at $47,264,000 after buying an additional 279,256 shares in the last quarter. 97.99% of the stock is currently 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.