Canaccord Genuity Group Issues Pessimistic Forecast for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL) had its target price lowered by investment analysts at Canaccord Genuity Group from $105.00 to $75.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 56.41% from the company’s current price.

BILL has been the subject of several other research reports. The Goldman Sachs Group reduced their target price on shares of BILL from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Needham & Company LLC lowered their target price on shares of BILL from $100.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Oppenheimer raised their price target on BILL from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, May 9th. Robert W. Baird reduced their price target on BILL from $82.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 4th. Finally, Piper Sandler dropped their price objective on BILL from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, BILL currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.67.

BILL Trading Up 0.5%

NYSE:BILL opened at $47.95 on Tuesday. 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 firm’s 50 day moving average is $44.66 and its 200 day moving average is $67.15. The stock has a market capitalization of $4.89 billion, a PE ratio of -4,795.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44.

BILL (NYSE:BILL) last issued its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.13. The firm had revenue of $358.22 million for the quarter, compared to analyst estimates of $355.85 million. BILL had a return on equity of 1.53% and a net margin of 5.90%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Sell-side analysts expect that BILL will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC purchased a new position in BILL in the fourth quarter worth $828,000. Choreo LLC purchased a new position in BILL in the fourth quarter worth $409,000. Rhumbline Advisers grew its position in BILL by 153.7% in the fourth quarter. Rhumbline Advisers now owns 271,027 shares of the company’s stock worth $22,959,000 after acquiring an additional 164,182 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in BILL by 29.4% in the fourth quarter. Chicago Partners Investment Group LLC now owns 18,705 shares of the company’s stock worth $1,543,000 after acquiring an additional 4,248 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in BILL in the fourth quarter worth $919,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.

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.