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

BILL (NYSE:BILL) had its price objective dropped by investment analysts at Morgan Stanley from $100.00 to $65.00 in a note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 59.96% from the company’s previous close.

A number of other research firms have also commented on BILL. Susquehanna lifted their price objective on shares of BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research note on Tuesday, January 7th. Piper Sandler dropped their price target on BILL from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $105.00 target price on shares of BILL in a research note on Friday, February 7th. Oppenheimer dropped their target price on BILL from $110.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Finally, The Goldman Sachs Group decreased 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 research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.72.

BILL Stock Down 0.7 %

BILL stock opened at $40.63 on Wednesday. The stock has a 50-day simple moving average of $48.51 and a 200-day simple moving average of $68.46. The company has a market capitalization of $4.14 billion, a P/E ratio of -4,063.40, a PEG ratio of 29.46 and a beta of 1.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. BILL has a fifty-two week low of $36.55 and a fifty-two week high of $100.19.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a net margin of 5.90% and a return on equity of 1.53%. Equities research analysts expect that BILL will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On BILL

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Groupama Asset Managment grew its holdings in shares of BILL by 162.8% in the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after acquiring an additional 3,500,000 shares during the period. Price T Rowe Associates Inc. MD boosted its position in BILL by 10.7% during 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. Norges Bank acquired a new stake in BILL in the fourth quarter valued at $99,906,000. Invesco Ltd. increased its position in shares of BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock valued at $110,269,000 after buying an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of BILL by 112.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock valued at $136,421,000 after buying an additional 852,863 shares in the last quarter. 97.99% of the stock is currently 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.