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

BILL (NYSE:BILL - Get Free Report) had its target price reduced by equities researchers at Needham & Company LLC from $100.00 to $75.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 58.50% from the company's current price.

BILL has been the topic of a number of other research reports. Piper Sandler decreased their target price on shares of BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of BILL from $57.00 to $43.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their target price on shares of BILL from $90.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Oppenheimer decreased their price target on shares of BILL from $110.00 to $90.00 and set an "outperform" rating on the stock in a report on Friday, February 7th. Finally, BTIG Research started coverage on shares of BILL in a report on Wednesday, April 30th. They issued a "buy" rating and a $60.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, BILL has a consensus rating of "Moderate Buy" and a consensus target price of $65.33.

BILL Price Performance

BILL traded up $2.60 on Friday, hitting $47.32. 4,081,506 shares of the company were exchanged, compared to its average volume of 2,276,085. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.66 and a current ratio of 1.66. The business's fifty day moving average is $44.69 and its 200 day moving average is $67.47. BILL has a fifty-two week low of $36.55 and a fifty-two week high of $100.19. The firm has a market capitalization of $4.82 billion, a P/E ratio of -4,732.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44.

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. BILL had a net margin of 5.90% and a return on equity of 1.53%. The business had revenue of $358.22 million during the quarter, compared to analysts' expectations of $355.85 million. During the same period last year, the company posted $0.60 EPS. The company's revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts anticipate that BILL will post 0.12 EPS for the current year.

Institutional Investors Weigh In On BILL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BILL. Groupama Asset Managment increased its position in shares of BILL by 162.8% in the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company's stock worth $478,611,000 after purchasing an additional 3,500,000 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of BILL by 10.7% in the 4th 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 during the period. Norges Bank acquired a new stake in shares of BILL in the 4th quarter worth approximately $99,906,000. Invesco Ltd. raised its holdings in shares of BILL by 828.1% in the 4th quarter. Invesco Ltd. now owns 1,301,720 shares of the company's stock worth $110,269,000 after purchasing an additional 1,161,457 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of BILL by 112.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company's stock worth $136,421,000 after purchasing an additional 852,863 shares in the last quarter. 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.