BILL (NYSE:BILL) Coverage Initiated at Truist Financial

Equities researchers at Truist Financial started coverage on shares of BILL (NYSE:BILL - Get Free Report) in a report issued on Monday, MarketBeat.com reports. The brokerage set a "hold" rating and a $47.00 price target on the stock. Truist Financial's target price would indicate a potential upside of 2.93% from the stock's current price.

A number of other analysts also recently issued reports on the company. Citigroup lowered their price target on BILL from $88.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Canaccord Genuity Group cut their price objective on BILL from $105.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Oppenheimer lifted their target price on BILL from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Piper Sandler reduced their price target on shares of BILL from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group boosted their price objective on shares of BILL from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

BILL Stock Performance

BILL stock traded up $0.06 during trading on Monday, reaching $45.66. The company had a trading volume of 782,059 shares, compared to its average volume of 2,745,881. BILL has a 52 week low of $36.55 and a 52 week 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 has a market capitalization of $4.70 billion, a price-to-earnings ratio of -4,566.00, a price-to-earnings-growth ratio of 29.46 and a beta of 1.44. The firm's 50-day simple moving average is $44.01 and its 200 day simple moving average is $64.57.

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

Insider Activity

In other news, SVP Germaine Cota sold 1,718 shares of the 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. This represents a 15.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.20% of the company's stock.

Institutional Investors Weigh In On BILL

Several hedge funds have recently added to or reduced their stakes in BILL. Strs Ohio acquired a new position in shares of BILL in the 1st quarter valued at about $10,892,000. Acadian Asset Management LLC lifted its holdings in BILL by 230.4% in the first quarter. Acadian Asset Management LLC now owns 38,237 shares of the company's stock valued at $1,754,000 after acquiring an additional 26,664 shares during the period. Plato Investment Management Ltd boosted its position in BILL by 234.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,630 shares of the company's stock worth $76,000 after purchasing an additional 1,142 shares in the last quarter. Bayforest Capital Ltd grew its stake in shares of BILL by 265.4% during the 1st quarter. Bayforest Capital Ltd now owns 6,164 shares of the company's stock worth $283,000 after purchasing an additional 4,477 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of BILL by 133.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,038,609 shares of the company's stock valued at $93,552,000 after purchasing an additional 1,165,398 shares in the last quarter. 97.99% of the stock is owned by hedge funds and other institutional investors.

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.