The Goldman Sachs Group Lowers BILL (NYSE:BILL) Price Target to $60.00

BILL (NYSE:BILL) had its target price cut by equities research analysts at The Goldman Sachs Group from $90.00 to $60.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 27.66% from the company’s previous close.

BILL has been the subject of a number of other research reports. Morgan Stanley raised BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Thursday, January 16th. Susquehanna increased their price objective on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a research report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and set a $85.00 price target on shares of BILL in a report on Friday, February 7th. Finally, Robert W. Baird lifted their price objective on BILL from $74.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BILL has an average rating of “Moderate Buy” and a consensus target price of $77.94.

BILL Stock Up 2.7 %

Shares of BILL traded up $1.24 during mid-day trading on Wednesday, reaching $47.00. The company had a trading volume of 1,281,145 shares, compared to its average volume of 2,222,385. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $4.79 billion, a price-to-earnings ratio of -4,700.00, a price-to-earnings-growth ratio of 29.46 and a beta of 2.00. The firm has a 50-day moving average price of $62.28 and a 200 day moving average price of $69.90. BILL has a 52 week low of $42.82 and a 52 week high of $100.19.

BILL (NYSE:BILL) last released its 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 1.53% and a net margin of 5.90%. On average, sell-side analysts forecast that BILL will post 0.12 EPS for the current year.

Institutional Investors Weigh In On BILL

A number of institutional investors have recently bought and sold shares of the business. Groupama Asset Managment grew its position in shares of BILL by 162.8% during the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in BILL by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares during the period. Norges Bank bought a new position in BILL in the 4th quarter worth approximately $99,906,000. Invesco Ltd. grew its holdings in BILL by 828.1% during the 4th quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock valued at $110,269,000 after buying an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of BILL by 112.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock valued at $136,421,000 after buying an additional 852,863 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.