Morgan Stanley Has Lowered Expectations for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its target price lowered by research analysts at Morgan Stanley from $65.00 to $60.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 34.35% from the stock’s previous close.

A number of other brokerages also recently weighed in on BILL. Seaport Res Ptn downgraded shares of BILL from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. KeyCorp reduced their price target on shares of BILL from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. BTIG Research began coverage on shares of BILL in a research report on Wednesday, April 30th. They issued a “buy” rating and a $60.00 price objective for the company. Mizuho reduced their target price on BILL from $70.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group lowered their price target on BILL from $90.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.50.

BILL Price Performance

BILL stock opened at $44.66 on Friday. The business’s fifty day moving average is $44.69 and its two-hundred day moving average is $67.39. 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 cap of $4.55 billion, a P/E ratio of -4,466.00, a P/E/G ratio of 29.46 and a beta of 1.44. BILL has a 52 week low of $36.55 and a 52 week high of $100.19.

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

Institutional Trading of BILL

Large investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in BILL by 57.8% during the first quarter. Deutsche Bank AG now owns 17,592 shares of the company’s stock worth $807,000 after purchasing an additional 6,444 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of BILL by 39.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,170 shares of the company’s stock worth $1,215,000 after acquiring an additional 7,465 shares in the last quarter. Maxi Investments CY Ltd increased its stake in BILL by 277.1% in the first quarter. Maxi Investments CY Ltd now owns 55,000 shares of the company’s stock valued at $2,524,000 after acquiring an additional 40,415 shares during the last quarter. Blair William & Co. IL raised its position in BILL by 54.9% during the first quarter. Blair William & Co. IL now owns 198,294 shares of the company’s stock valued at $9,100,000 after purchasing an additional 70,276 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in BILL by 69.2% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 33,000 shares of the company’s stock worth $1,514,000 after purchasing an additional 13,500 shares during the last quarter. 97.99% of the stock is owned by institutional investors and hedge funds.

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.