Canaccord Genuity Group Reiterates “Buy” Rating for BILL (NYSE:BILL)

BILL (NYSE:BILL)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a note issued to investors on Friday, Benzinga reports. They presently have a $100.00 price target on the stock. Canaccord Genuity Group’s price target points to a potential upside of 76.74% from the stock’s current price.

Several other analysts also recently commented on BILL. Piper Sandler reduced their target price on shares of BILL from $95.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, April 12th. JPMorgan Chase & Co. decreased their target price on BILL from $93.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. BMO Capital Markets dropped their price target on BILL from $82.00 to $75.00 and set a “market perform” rating for the company in a report on Friday. Citigroup upped their price objective on BILL from $85.00 to $86.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $60.00 price objective (down previously from $70.00) on shares of BILL in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, BILL presently has an average rating of “Moderate Buy” and a consensus target price of $99.62.

BILL Stock Performance

NYSE:BILL traded down $6.72 during mid-day trading on Friday, hitting $56.58. The stock had a trading volume of 7,335,502 shares, compared to its average volume of 2,187,533. BILL has a twelve month low of $51.94 and a twelve month high of $139.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -52.39, a PEG ratio of 84.53 and a beta of 1.68. The company’s 50 day simple moving average is $64.29 and its 200 day simple moving average is $71.33.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $318.50 million during the quarter, compared to analysts’ expectations of $296.62 million. BILL had a positive return on equity of 0.29% and a negative net margin of 9.67%. On average, equities research analysts forecast that BILL will post 0.03 earnings per share for the current year.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 920 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $65.34, for a total value of $60,112.80. Following the completion of the transaction, the senior vice president now owns 5,093 shares of the company’s stock, valued at $332,776.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Trading of BILL

Several hedge funds and other institutional investors have recently made changes to their positions in BILL. Quest Partners LLC acquired a new stake in BILL during the 4th quarter worth approximately $35,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of BILL by 57.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 811 shares of the company’s stock worth $56,000 after purchasing an additional 295 shares during the last quarter. Garner Asset Management Corp bought a new stake in shares of BILL in the fourth quarter worth $90,000. Sands Capital Management LLC acquired a new stake in BILL in the third quarter valued at $136,000. Finally, Principal Securities Inc. bought a new position in BILL during the 4th quarter worth $138,000. 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.