Piper Sandler Trims BILL (NYSE:BILL) Target Price to $77.00

BILL (NYSE:BILL) had its target price reduced by Piper Sandler from $95.00 to $77.00 in a research report sent to investors on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of BILL from $93.00 to $90.00 and set an overweight rating on the stock in a report on Friday, February 9th. Wells Fargo & Company reiterated an underweight rating and set a $60.00 target price (down from $70.00) on shares of BILL in a research report on Monday, April 1st. Oppenheimer lifted their target price on shares of BILL from $75.00 to $83.00 and gave the company an overweight rating in a research report on Friday, February 9th. BNP Paribas upgraded 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, Needham & Company LLC reiterated a buy rating and set a $100.00 target price on shares of BILL in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BILL has a consensus rating of Moderate Buy and an average target price of $105.76.

BILL Stock Performance

Shares of BILL opened at $60.92 on Friday. The company’s fifty day moving average price is $65.52 and its 200 day moving average price is $75.20. BILL has a one year low of $51.94 and a one year high of $139.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $6.41 billion, a PE ratio of -56.41, a price-to-earnings-growth ratio of 82.99 and a beta of 1.66.

BILL (NYSE:BILL) last posted its quarterly earnings data 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 company had revenue of $318.50 million for the quarter, compared to the consensus estimate of $296.62 million. As a group, analysts expect that BILL will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Germaine Cota sold 920 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $65.34, for a total transaction of $60,112.80. Following the completion of the sale, the senior vice president now directly owns 5,093 shares of the company’s stock, valued at $332,776.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On BILL

Institutional investors and hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. bought a new stake in shares of BILL during the first quarter worth approximately $38,000. Quarry LP raised its stake in shares of BILL by 173.4% during the first quarter. Quarry LP now owns 391 shares of the company’s stock worth $32,000 after buying an additional 248 shares during the last quarter. Carolinas Wealth Consulting LLC bought a new stake in shares of BILL during the first quarter worth approximately $91,000. Coppell Advisory Solutions Corp. bought a new stake in shares of BILL during the fourth quarter worth approximately $44,000. Finally, Quest Partners LLC bought a new stake in shares of BILL during the fourth quarter worth approximately $35,000. 97.99% of the stock is owned by institutional investors.

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.