Oppenheimer Cuts BILL (NYSE:BILL) Price Target to $90.00

BILL (NYSE:BILL) had its price target cut by Oppenheimer from $110.00 to $90.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 38.82% from the company’s current price.

A number of other brokerages have also commented on BILL. Morgan Stanley raised shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a report on Thursday, January 16th. KeyCorp decreased their price target on shares of BILL from $115.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday. The Goldman Sachs Group raised shares of BILL from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $104.00 in a report on Thursday, January 9th. Piper Sandler reissued an “overweight” rating and issued a $85.00 price target on shares of BILL in a report on Friday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $105.00 target price on shares of BILL in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.68.

BILL Stock Performance

Shares of BILL stock traded down $31.52 during trading on Friday, reaching $64.83. 19,821,984 shares of the company’s stock traded hands, compared to its average volume of 3,080,473. The firm’s 50-day moving average is $89.50 and its 200 day moving average is $69.34. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $6.71 billion, a P/E ratio of -197.21, a PEG ratio of 164.86 and a beta of 1.76. BILL has a 1 year low of $43.11 and a 1 year high of $100.19.

BILL (NYSE:BILL) last posted its earnings results on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.38). BILL had a return on equity of 1.54% and a net margin of 0.59%. Equities research analysts expect that BILL will post 0.04 EPS for the current year.

Insider Buying and Selling at BILL

In related news, Director Alison Wagonfeld sold 779 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total value of $70,110.00. Following the transaction, the director now owns 259 shares of the company’s stock, valued at approximately $23,310. This trade represents a 75.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On BILL

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB lifted its holdings in BILL by 27.8% during the third quarter. Handelsbanken Fonder AB now owns 27,156 shares of the company’s stock valued at $1,433,000 after purchasing an additional 5,900 shares in the last quarter. Private Advisory Group LLC bought a new stake in BILL in the third quarter worth $3,344,000. Washington Capital Management Inc. bought a new stake in BILL in the third quarter worth $274,000. Aaron Wealth Advisors LLC bought a new position in BILL during the third quarter valued at $220,000. Finally, Blue Trust Inc. increased its position in BILL by 1,167.5% during the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock valued at $101,000 after acquiring an additional 1,763 shares during the last quarter. Hedge funds and other 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.