Canaccord Genuity Group Lowers BILL (NYSE:BILL) Price Target to $75.00

BILL (NYSE:BILL) had its price target decreased by equities researchers at Canaccord Genuity Group from $105.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 58.50% from the stock’s current price.

BILL has been the topic of several other research reports. The Goldman Sachs Group decreased their price objective on BILL from $90.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. BTIG Research started coverage on BILL in a research note on Wednesday, April 30th. They issued a “buy” rating and a $60.00 price objective on the stock. Seaport Res Ptn lowered BILL from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Needham & Company LLC cut their price target on shares of BILL from $100.00 to $75.00 and set a “buy” rating for the company in a report on Friday. Finally, Keefe, Bruyette & Woods cut their target price on shares of BILL from $77.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, March 31st. One 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’s stock. Based on data from MarketBeat.com, BILL presently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

BILL Trading Up 5.8%

BILL stock opened at $47.32 on Tuesday. BILL has a 52 week low of $36.55 and a 52 week high of $100.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $4.82 billion, a PE ratio of -4,732.00, a PEG ratio of 29.46 and a beta of 1.44. The business’s 50-day simple moving average is $44.65 and its 200-day simple moving average is $67.42.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.13. The company had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. BILL had a return on equity of 1.53% and a net margin of 5.90%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Equities research analysts forecast that BILL will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On BILL

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of BILL by 10.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after purchasing an additional 1,241,432 shares during the last quarter. Groupama Asset Managment grew its position in shares of BILL by 162.8% during the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after buying an additional 3,500,000 shares during the period. Geode Capital Management LLC grew its position in shares of BILL by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 1,622,998 shares of the company’s stock worth $137,528,000 after buying an additional 119,711 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of BILL by 112.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock valued at $136,421,000 after acquiring an additional 852,863 shares during the last quarter. Finally, Greenhouse Funds LLLP raised its position in shares of BILL by 0.8% in the 4th quarter. Greenhouse Funds LLLP now owns 1,396,617 shares of the company’s stock valued at $118,307,000 after acquiring an additional 11,002 shares during the period. 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.