BILL (NYSE:BILL) Stock Rating Reaffirmed by Canaccord Genuity Group

BILL (NYSE:BILL)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a research note issued on Friday, Benzinga reports. They currently have a $100.00 target price on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 76.74% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Citigroup upped their target price on BILL from $85.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $60.00 price target (down from $70.00) on shares of BILL in a research note on Monday, April 1st. Piper Sandler lowered their price objective on BILL from $95.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. BNP Paribas raised shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 target price on the stock in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group lowered their price target on shares of BILL from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, BILL has an average rating of “Moderate Buy” and an average target price of $99.62.

BILL Trading Down 10.6 %

BILL stock traded down $6.72 on Friday, reaching $56.58. The company’s stock had a trading volume of 7,335,502 shares, compared to its average volume of 2,187,533. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69. The business has a fifty day simple moving average of $64.29 and a two-hundred day simple moving average of $71.33. The firm has a market cap of $5.95 billion, a PE ratio of -52.39, a PEG ratio of 84.53 and a beta of 1.68. BILL has a 12-month low of $51.94 and a 12-month high of $139.50.

BILL (NYSE:BILL) last announced its earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. BILL had a negative net margin of 9.67% and a positive return on equity of 0.29%. The firm had revenue of $318.50 million for the quarter, compared to analyst estimates of $296.62 million. As a group, research analysts forecast that BILL will post 0.03 EPS for the current year.

Insider Buying and Selling

In other news, SVP Germaine Cota sold 920 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the sale, the senior vice president now owns 5,093 shares of the company’s stock, valued at approximately $332,776.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of institutional investors and hedge funds have recently modified their holdings of BILL. Vanguard Group Inc. grew its position in BILL by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,881,532 shares of the company’s stock valued at $806,234,000 after buying an additional 162,428 shares during the period. Lone Pine Capital LLC grew its position in shares of BILL by 39.7% during the 3rd quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after acquiring an additional 723,151 shares during the period. Coatue Management LLC bought a new stake in shares of BILL during the 4th quarter valued at $163,218,000. Abdiel Capital Advisors LP increased its stake in shares of BILL by 16.6% in the 4th quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock worth $139,632,000 after purchasing an additional 243,788 shares in the last quarter. Finally, Norges Bank bought a new position in BILL in the 4th quarter worth $95,702,000. 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.