The Goldman Sachs Group Forecasts Strong Price Appreciation for BILL (NYSE:BILL) Stock

BILL (NYSE:BILL) had its target price lifted by equities researchers at The Goldman Sachs Group from $60.00 to $77.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential downside of 14.16% from the stock’s previous close.

Several other research analysts have also recently commented on BILL. BNP Paribas raised shares of BILL from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Thursday, September 12th. BMO Capital Markets decreased their target price on shares of BILL from $75.00 to $57.00 and set a “market perform” rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group reiterated a “buy” rating and issued a $100.00 target price on shares of BILL in a research note on Friday, August 23rd. Keefe, Bruyette & Woods dropped their price target on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, August 23rd. Finally, UBS Group lowered their target price on shares of BILL from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.65.

BILL Price Performance

Shares of NYSE:BILL opened at $89.70 on Tuesday. BILL has a fifty-two week low of $43.11 and a fifty-two week high of $91.19. The business has a 50-day moving average of $56.81 and a two-hundred day moving average of $53.89. The stock has a market capitalization of $9.28 billion, a P/E ratio of -271.82 and a beta of 1.59. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.55.

BILL (NYSE:BILL) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.11. BILL had a return on equity of 1.54% and a net margin of 0.59%. The firm had revenue of $343.67 million for the quarter, compared to the consensus estimate of $328.27 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, equities research analysts predict that BILL will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at BILL

In other BILL news, CFO John R. Rettig purchased 21,124 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the purchase, the chief financial officer now owns 80,474 shares of the company’s stock, valued at approximately $3,975,415.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Germaine Cota sold 803 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $54.75, for a total value of $43,964.25. Following the completion of the sale, the senior vice president now owns 6,861 shares in the company, valued at $375,639.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John R. Rettig purchased 21,124 shares of BILL stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the purchase, the chief financial officer now owns 80,474 shares of the company’s stock, valued at $3,975,415.60. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 68,372 shares of company stock valued at $3,404,826 and have sold 5,333 shares valued at $328,800. Insiders own 4.20% of the company’s stock.

Institutional Trading of BILL

Several institutional investors and hedge funds have recently added to or reduced their stakes in BILL. Covestor Ltd increased its holdings in shares of BILL by 15.1% in the third quarter. Covestor Ltd now owns 1,897 shares of the company’s stock valued at $100,000 after purchasing an additional 249 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in BILL by 4.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,749 shares of the company’s stock worth $449,000 after buying an additional 257 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of BILL by 30.8% during the third quarter. Advisors Asset Management Inc. now owns 1,101 shares of the company’s stock worth $58,000 after purchasing an additional 259 shares in the last quarter. Institute for Wealth Management LLC. increased its position in BILL by 4.4% in the 2nd quarter. Institute for Wealth Management LLC. now owns 7,670 shares of the company’s stock valued at $404,000 after acquiring an additional 322 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in BILL in the 3rd quarter valued at approximately $28,000. 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.