Morgan Stanley Downgrades BILL (NYSE:BILL) to Equal Weight

BILL (NYSE:BILL - Get Free Report) was downgraded by stock analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a $55.00 price target on the stock, down from their prior price target of $60.00. Morgan Stanley's target price would indicate a potential upside of 32.71% from the stock's previous close.

A number of other equities analysts also recently weighed in on BILL. Oppenheimer boosted their price target on shares of BILL from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their price objective on BILL from $90.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Citigroup decreased their price target on BILL from $88.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. BTIG Research started coverage on shares of BILL in a research report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Robert W. Baird decreased their price objective on shares of BILL from $82.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $62.75.

BILL Trading Down 5.7%

BILL stock traded down $2.53 during mid-day trading on Wednesday, hitting $41.45. 1,998,655 shares of the stock were exchanged, compared to its average volume of 2,289,885. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. BILL has a 12 month low of $36.55 and a 12 month high of $100.19. The firm's fifty day simple moving average is $44.27 and its two-hundred day simple moving average is $62.20. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -4,144.50, a PEG ratio of 29.46 and a beta of 1.36.

BILL (NYSE:BILL - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. The firm had revenue of $358.22 million during the quarter, compared to analyst estimates of $355.85 million. BILL had a net margin of 5.90% and a return on equity of 1.53%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. Analysts forecast that BILL will post 0.12 EPS for the current year.

Insider Activity

In related news, SVP Germaine Cota sold 1,718 shares of BILL stock in a transaction on Friday, May 30th. The shares were sold at an average price of $42.55, for a total value of $73,100.90. Following the sale, the senior vice president now owns 9,512 shares in the company, valued at $404,735.60. The trade was a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On BILL

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Choreo LLC bought a new position in shares of BILL during the 4th quarter valued at approximately $409,000. State of Alaska Department of Revenue purchased a new position in shares of BILL during the fourth quarter valued at $919,000. Empowered Funds LLC increased its stake in shares of BILL by 4.0% during the fourth quarter. Empowered Funds LLC now owns 5,324 shares of the company's stock valued at $451,000 after buying an additional 207 shares during the period. Louisiana State Employees Retirement System bought a new stake in BILL during the fourth quarter valued at about $2,236,000. Finally, Legato Capital Management LLC bought a new stake in BILL during the fourth quarter valued at about $828,000. 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.