Bill.com (NYSE:BILL) had its target price upped by stock analysts at Goldman Sachs Group from $60.00 to $90.00 in a research note issued on Monday, The Fly reports. Goldman Sachs Group’s target price indicates a potential upside of 0.27% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Piper Sandler raised Bill.com from a “neutral” rating to an “overweight” rating and set a $85.00 price target for the company in a report on Thursday, May 28th. ValuEngine raised Bill.com from a “hold” rating to a “buy” rating in a report on Tuesday, March 3rd. First Analysis started coverage on Bill.com in a report on Tuesday, March 10th. They issued an “outperform” rating and a $55.00 price target for the company. Bank of America reissued a “buy” rating and issued a $85.00 price target on shares of Bill.com in a report on Friday, May 8th. Finally, Wells Fargo & Co started coverage on Bill.com in a report on Wednesday, April 22nd. They issued an “equal weight” rating and a $48.00 price target for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.50.
Shares of BILL stock opened at $89.76 on Monday. Bill.com has a 1-year low of $23.61 and a 1-year high of $97.84. The company’s 50-day moving average is $75.38.
Bill.com (NYSE:BILL) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. Bill.com had a negative return on equity of 17.32% and a negative net margin of 17.73%. The company had revenue of $41.23 million for the quarter, compared to the consensus estimate of $37.02 million. The company’s revenue was up 46.0% on a year-over-year basis. On average, equities analysts expect that Bill.com will post -0.51 EPS for the current year.
In other news, CEO Rene A. Lacerte sold 8,981 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $65.07, for a total value of $584,393.67. Following the completion of the transaction, the chief executive officer now directly owns 70,950 shares in the company, valued at $4,616,716.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bora Chung sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $76.98, for a total value of $923,760.00. Following the completion of the transaction, the senior vice president now owns 12,000 shares of the company’s stock, valued at $923,760. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,842,676 shares of company stock valued at $251,922,504.
A number of hedge funds have recently made changes to their positions in the stock. State Street Corp purchased a new position in Bill.com during the first quarter valued at approximately $3,113,000. Fred Alger Management LLC raised its position in Bill.com by 158.8% during the first quarter. Fred Alger Management LLC now owns 99,356 shares of the company’s stock valued at $3,398,000 after acquiring an additional 60,968 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Bill.com during the first quarter valued at approximately $988,000. Engle Capital Management L.P. purchased a new position in Bill.com during the first quarter valued at approximately $9,576,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Bill.com in the first quarter valued at approximately $705,000. Institutional investors own 60.09% of the company’s stock.
Bill.com Holdings, Inc provides cloud-based software that digitizes and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial-intelligence (AI)-enabled financial software platform. The company provides software-as-a-service, cloud-based payments 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, manage cash flows, and enhance office efficiency.
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