BILL Holdings, Inc. (NYSE:BILL) Receives $69.18 Average Price Target from Brokerages

Shares of BILL Holdings, Inc. (NYSE:BILL) have been assigned a consensus recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $69.18.

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, August 23rd. Piper Sandler boosted their target price on shares of BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Mizuho dropped their price target on BILL from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 28th. Susquehanna reiterated a “positive” rating and set a $100.00 price objective on shares of BILL in a research report on Monday, August 19th. Finally, UBS Group dropped their target price on BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Insider Buying and Selling

In other BILL news, CFO John R. Rettig purchased 21,124 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $49.40 per share, with a total value of $1,043,525.60. Following the completion of the acquisition, the chief financial officer now directly owns 80,474 shares in the company, valued at $3,975,415.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Rene A. Lacerte bought 42,248 shares of the business’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 184,249 shares of the company’s stock, valued at approximately $9,138,750.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John R. Rettig purchased 21,124 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average price of $49.40 per share, for a total transaction of $1,043,525.60. Following the purchase, the chief financial officer now owns 80,474 shares in the company, valued at $3,975,415.60. The disclosure for this purchase can be found here. In the last quarter, insiders bought 68,372 shares of company stock valued at $3,404,826. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On BILL

Large investors have recently made changes to their positions in the company. Coatue Management LLC purchased a new position in BILL during the 4th quarter valued at approximately $163,218,000. Norges Bank bought a new stake in BILL in the fourth quarter worth $95,702,000. Abdiel Capital Advisors LP raised its stake in BILL by 46.4% during the second quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after purchasing an additional 1,095,396 shares in the last quarter. Kodai Capital Management LP bought a new position in BILL during the first quarter valued at $59,341,000. Finally, Contour Asset Management LLC bought a new position in BILL during the fourth quarter valued at $49,509,000. 97.99% of the stock is owned by institutional investors.

BILL Stock Performance

Shares of BILL opened at $55.06 on Friday. The company has a market cap of $5.84 billion, a price-to-earnings ratio of -69.70 and a beta of 1.61. The business’s fifty day simple moving average is $51.22 and its two-hundred day simple moving average is $56.39. BILL has a 12 month low of $43.11 and a 12 month high of $118.96. The company has a current ratio of 1.55, a quick ratio of 1.63 and a debt-to-equity ratio of 0.22.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.46 by $0.11. BILL had a positive return on equity of 1.13% and a negative net margin of 2.24%. The company had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. During the same period last year, the firm posted $0.10 earnings per share. BILL’s revenue was up 16.1% compared to the same quarter last year. Research analysts anticipate that BILL will post -0.51 earnings per share for the current fiscal year.

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.