BMO Capital Markets Cuts BILL (NYSE:BILL) Price Target to $75.00

BILL (NYSE:BILL) had its target price reduced by research analysts at BMO Capital Markets from $82.00 to $75.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 32.56% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of BILL in a research note on Friday, February 9th. BNP Paribas upgraded shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price objective for the company in a report on Wednesday, March 13th. Robert W. Baird reduced their price objective on shares of BILL from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company reiterated an “underweight” rating and set a $60.00 price objective (down from $70.00) on shares of BILL in a report on Monday, April 1st. Finally, Citigroup lifted their price objective on shares of BILL from $85.00 to $86.00 and gave the company a “buy” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, BILL currently has an average rating of “Moderate Buy” and an average price target of $99.62.

BILL Price Performance

Shares of NYSE BILL traded down $6.72 during trading hours on Friday, hitting $56.58. 7,335,502 shares of the stock were exchanged, 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 company has a market cap of $5.95 billion, a PE ratio of -52.39, a price-to-earnings-growth ratio of 84.53 and a beta of 1.68. The company’s fifty day simple moving average is $64.29 and its two-hundred day simple moving average is $71.33. BILL has a 1-year low of $51.94 and a 1-year high of $139.50.

BILL (NYSE:BILL) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $318.50 million for the quarter, compared to analyst estimates of $296.62 million. On average, sell-side analysts predict that BILL will post 0.03 EPS for the current year.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 920 shares of BILL stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares in the company, valued at $332,776.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BILL

Large investors have recently added to or reduced their stakes in the company. Coatue Management LLC purchased a new position in shares of BILL in the fourth quarter worth $163,218,000. Norges Bank bought a new position in BILL during the fourth quarter valued at $95,702,000. Lone Pine Capital LLC grew its holdings in shares of BILL by 39.7% in the third quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock worth $276,494,000 after purchasing an additional 723,151 shares during the last quarter. Contour Asset Management LLC bought a new position in shares of BILL in the fourth quarter worth about $49,509,000. Finally, Gotham Asset Management LLC grew its holdings in shares of BILL by 14,421.8% in the fourth quarter. Gotham Asset Management LLC now owns 508,408 shares of the company’s stock worth $41,481,000 after purchasing an additional 504,907 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.