BILL (NYSE:BILL) Given Buy Rating at Needham & Company LLC

BILL (NYSE:BILL)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $75.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 67.26% from the company’s previous close.

BILL has been the subject of several other research reports. Piper Sandler reduced their price objective on shares of BILL from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Citigroup reduced their price target on shares of BILL from $88.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, May 22nd. Wells Fargo & Company decreased their price objective on shares of BILL from $43.00 to $40.00 and set an “underweight” rating for the company in a report on Friday, May 9th. UBS Group boosted their price objective on BILL from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, BTIG Research began coverage on BILL in a research note on Wednesday, April 30th. They set a “buy” rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, BILL has an average rating of “Moderate Buy” and an average target price of $62.75.

BILL Stock Performance

BILL opened at $44.84 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $44.56 and its 200-day moving average is $59.73. The stock has a market cap of $4.62 billion, a PE ratio of -373.64, a price-to-earnings-growth ratio of 11.39 and a beta of 1.36. BILL has a twelve month low of $36.55 and a twelve month high of $100.19.

BILL (NYSE:BILL) last announced its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.13. BILL had a return on equity of 1.21% and a net margin of 2.70%. The firm had revenue of $358.22 million for the quarter, compared to the consensus estimate of $355.85 million. During the same quarter in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts predict that BILL will post 0.12 earnings per share for the current year.

Insider Activity at BILL

In other BILL news, SVP Germaine Cota sold 1,718 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $42.55, for a total transaction of $73,100.90. Following the transaction, the senior vice president now directly owns 9,512 shares of the company’s stock, valued at $404,735.60. This represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment raised its stake in shares of BILL by 162.8% in the fourth quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock valued at $478,611,000 after purchasing an additional 3,500,000 shares in the last quarter. Contour Asset Management LLC acquired a new stake in shares of BILL during the 1st quarter valued at about $65,783,000. Dimensional Fund Advisors LP increased its stake in BILL by 110.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company’s stock valued at $114,265,000 after acquiring an additional 1,309,337 shares during the period. Price T Rowe Associates Inc. MD raised its position in BILL by 10.7% in the fourth 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 in the last quarter. Finally, Norges Bank bought a new position in BILL during the fourth quarter worth about $99,906,000. 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.