Needham & Company LLC Has Lowered Expectations for BILL (NYSE:BILL) Stock Price

BILL (NYSE:BILL - Get Free Report) had its price target dropped by Needham & Company LLC from $100.00 to $75.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 56.94% from the stock's previous close.

BILL has been the subject of several other research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $105.00 target price on shares of BILL in a report on Friday, February 7th. Keefe, Bruyette & Woods lowered their price objective on shares of BILL from $77.00 to $54.00 and set a "market perform" rating on the stock in a research report on Monday, March 31st. KeyCorp reduced their price objective on BILL from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Mizuho reduced their price objective on shares of BILL from $70.00 to $53.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company dropped their target price on shares of BILL from $57.00 to $43.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. One investment 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. According to data from MarketBeat, BILL presently has a consensus rating of "Moderate Buy" and an average price target of $63.67.

BILL Stock Performance

Shares of BILL stock traded up $0.06 during mid-day trading on Friday, reaching $47.79. The stock had a trading volume of 1,540,522 shares, compared to its average volume of 2,878,789. The business's fifty day moving average is $44.65 and its 200-day moving average is $67.28. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of -4,779.00, a PEG ratio of 29.46 and a beta of 1.44. BILL has a 1-year low of $36.55 and a 1-year 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.

BILL (NYSE:BILL - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.13. The business had revenue of $358.22 million during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.60 earnings per share. On average, research analysts forecast that BILL will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On BILL

Several institutional investors have recently made changes to their positions in BILL. Groupama Asset Managment lifted its holdings in shares of BILL by 162.8% in the fourth 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 last quarter. Dimensional Fund Advisors LP boosted its stake in BILL by 110.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,489,918 shares of the company's stock worth $114,265,000 after acquiring an additional 1,309,337 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in BILL by 10.7% in 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 acquiring an additional 1,241,432 shares in the last quarter. Norges Bank acquired a new stake in shares of BILL in the 4th quarter worth about $99,906,000. Finally, Invesco Ltd. boosted its position in shares of BILL by 828.1% during 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 during the last quarter. 97.99% of the stock is currently owned by 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.