Needham & Company LLC Reaffirms Buy Rating for BILL (NYSE:BILL)

BILL (NYSE:BILL)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They presently have a $100.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 76.74% from the company’s current price.

BILL has been the topic of several other reports. Canaccord Genuity Group restated a “buy” rating and set a $100.00 price target on shares of BILL in a report on Friday. Wells Fargo & Company restated an “underweight” rating and set a $60.00 price target (down from $70.00) on shares of BILL in a report on Monday, April 1st. BNP Paribas upgraded shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 price target on the stock in a report on Wednesday, March 13th. BMO Capital Markets lowered their price objective on shares of BILL from $82.00 to $75.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, Robert W. Baird lowered their price objective on shares of BILL from $78.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.62.

BILL Stock Down 10.6 %

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

BILL (NYSE:BILL) last issued 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 firm had revenue of $318.50 million during the quarter, compared to analysts’ expectations of $296.62 million. BILL had a negative net margin of 9.67% and a positive return on equity of 0.29%. On average, equities analysts expect that BILL will post 0.03 earnings per share for the current year.

Insider Activity at BILL

In other BILL news, SVP Germaine Cota sold 920 shares of the business’s stock in a transaction that occurred on 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 approximately $332,776.62. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BILL

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of BILL by 10.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,400 shares of the company’s stock valued at $2,975,000 after purchasing an additional 2,700 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in BILL during the 3rd quarter valued at about $218,000. Robeco Institutional Asset Management B.V. lifted its position in BILL by 1,432.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 31,203 shares of the company’s stock valued at $3,388,000 after acquiring an additional 29,167 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in BILL by 11.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,927 shares of the company’s stock valued at $209,000 after purchasing an additional 193 shares in the last quarter. Finally, Forsta AP Fonden bought a new stake in BILL during the 3rd quarter valued at about $2,269,000. Hedge funds and other institutional investors own 97.99% of the company’s stock.

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.