BILL (NYSE:BILL) Stock Rating Upgraded by BNP Paribas

BILL (NYSE:BILL) was upgraded by equities research analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a report issued on Thursday, Briefing.com reports. The firm presently has a $90.00 target price on the stock. BNP Paribas’ price objective points to a potential upside of 72.28% from the company’s previous close.

A number of other equities analysts also recently issued reports on BILL. JPMorgan Chase & Co. reduced their price target on BILL from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. Evercore ISI reduced their price target on BILL from $70.00 to $60.00 and set an “in-line” rating on the stock in a research report on Friday, August 23rd. Robert W. Baird dropped their price objective on shares of BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $100.00 price objective on shares of BILL in a report on Friday, August 23rd. Finally, Piper Sandler boosted their price objective on shares of BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.24.

BILL Stock Performance

Shares of NYSE:BILL opened at $52.24 on Thursday. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -66.13 and a beta of 1.61. BILL has a 52 week low of $43.11 and a 52 week high of $118.69. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $51.22 and a 200 day moving average of $56.20.

BILL (NYSE:BILL) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, sell-side analysts predict that BILL will post -0.51 earnings per share for the current fiscal year.

Insider Transactions at BILL

In other news, insider Rajesh A. Aji sold 2,486 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $54.73, for a total transaction of $136,058.78. Following the sale, the insider now directly owns 7,812 shares of the company’s stock, valued at approximately $427,550.76. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Brian Jacobs purchased 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $53.16 per share, for a total transaction of $265,800.00. Following the transaction, the director now directly owns 9,559 shares in the company, valued at $508,156.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rajesh A. Aji sold 2,486 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $54.73, for a total transaction of $136,058.78. Following the transaction, the insider now owns 7,812 shares of the company’s stock, valued at approximately $427,550.76. The disclosure for this sale can be found here. Insiders have bought a total of 68,372 shares of company stock valued at $3,404,826 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of BILL

A number of hedge funds have recently bought and sold shares of BILL. Coatue Management LLC acquired a new stake in BILL in the 4th quarter valued at about $163,218,000. Norges Bank acquired a new stake in BILL in the 4th quarter valued at about $95,702,000. Abdiel Capital Advisors LP raised its holdings in BILL by 46.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after acquiring an additional 1,095,396 shares during the last quarter. Kodai Capital Management LP acquired a new stake in BILL in the 1st quarter valued at about $59,341,000. Finally, Contour Asset Management LLC acquired a new stake in BILL in the 4th quarter valued at about $49,509,000. Institutional investors and hedge funds 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.