BTIG Research Begins Coverage on BILL (NYSE:BILL)

Analysts at BTIG Research initiated coverage on shares of BILL (NYSE:BILL) in a research report issued on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $60.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 31.73% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. KeyCorp cut their price target on shares of BILL from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Oppenheimer lowered their price target on BILL from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Morgan Stanley reissued an “overweight” rating on shares of BILL in a report on Wednesday, April 16th. Robert W. Baird lowered their target price on shares of BILL from $82.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of BILL in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BILL currently has an average rating of “Moderate Buy” and an average price target of $69.28.

BILL Stock Performance

Shares of BILL stock opened at $45.55 on Wednesday. BILL has a 12 month low of $36.55 and a 12 month high of $100.19. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $4.64 billion, a PE ratio of -4,554.60, a PEG ratio of 29.46 and a beta of 1.88. The stock’s fifty day simple moving average is $45.58 and its 200 day simple moving average is $67.75.

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

Institutional Investors Weigh In On BILL

Several hedge funds have recently added to or reduced their stakes in BILL. New York State Common Retirement Fund lifted its holdings in shares of BILL by 56.1% during the first quarter. New York State Common Retirement Fund now owns 213,325 shares of the company’s stock worth $9,789,000 after purchasing an additional 76,704 shares during the period. Xponance Inc. increased its stake in shares of BILL by 1.6% in the first quarter. Xponance Inc. now owns 13,902 shares of the company’s stock valued at $638,000 after buying an additional 222 shares during the period. Iridian Asset Management LLC CT raised its position in shares of BILL by 104.5% during the first quarter. Iridian Asset Management LLC CT now owns 109,849 shares of the company’s stock worth $5,041,000 after acquiring an additional 56,144 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of BILL by 24.4% in the first quarter. Envestnet Asset Management Inc. now owns 98,875 shares of the company’s stock worth $4,537,000 after acquiring an additional 19,378 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in BILL by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 850,800 shares of the company’s stock valued at $39,043,000 after acquiring an additional 43,186 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds.

BILL Company Profile

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.