The Goldman Sachs Group Boosts BILL (NYSE:BILL) Price Target to $60.00

BILL (NYSE:BILL) had its price target raised by The Goldman Sachs Group from $54.00 to $60.00 in a research report sent to investors on Monday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on BILL. UBS Group decreased their price target on shares of BILL from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Oppenheimer cut their price target on shares of BILL from $95.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Robert W. Baird dropped their target price on shares of BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Piper Sandler boosted their target price on shares of BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Evercore ISI dropped their price target on shares of BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $70.59.

BILL Stock Performance

Shares of NYSE:BILL opened at $56.65 on Monday. The company’s 50 day simple moving average is $52.51 and its 200 day simple moving average is $54.00. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of -71.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.55 and a quick ratio of 1.55. BILL has a 1 year low of $43.11 and a 1 year high of $109.35.

BILL (NYSE:BILL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $343.67 million for the quarter, compared to analyst estimates of $328.27 million. BILL had a negative net margin of 2.24% and a positive return on equity of 1.13%. BILL’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, research analysts predict that BILL will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at BILL

In other news, CEO Rene A. Lacerte acquired 42,248 shares of the business’s stock in a transaction on Monday, August 26th. The shares were acquired at an average cost of $49.60 per share, with a total value of $2,095,500.80. Following the transaction, the chief executive officer now owns 184,249 shares in the company, valued at $9,138,750.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other BILL news, CFO John R. Rettig bought 21,124 shares of the stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the acquisition, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Rene A. Lacerte acquired 42,248 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $49.60 per share, with a total value of $2,095,500.80. Following the completion of the acquisition, the chief executive officer now owns 184,249 shares in the company, valued at $9,138,750.40. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 68,372 shares of company stock valued at $3,404,826. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of hedge funds have recently added to or reduced their stakes in BILL. Advisors Asset Management Inc. raised its stake in BILL by 75.0% during the 1st quarter. Advisors Asset Management Inc. now owns 658 shares of the company’s stock valued at $45,000 after buying an additional 282 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in BILL by 57.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock valued at $56,000 after buying an additional 295 shares during the last quarter. Versant Capital Management Inc purchased a new stake in BILL during the 2nd quarter valued at $46,000. UniSuper Management Pty Ltd grew its position in shares of BILL by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company’s stock valued at $96,000 after acquiring an additional 700 shares during the period. Finally, Covestor Ltd grew its position in shares of BILL by 1,742.7% during the 1st quarter. Covestor Ltd now owns 1,640 shares of the company’s stock valued at $113,000 after acquiring an additional 1,551 shares during the period. 97.99% of the stock is currently owned by hedge funds and other 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.