BILL (NYSE:BILL) Price Target Cut to $57.00 by Analysts at Wells Fargo & Company

BILL (NYSE:BILL) had its price objective trimmed by Wells Fargo & Company from $65.00 to $57.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other research analysts also recently issued research reports about the stock. Oppenheimer raised their price target on shares of BILL from $70.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Robert W. Baird raised their target price on BILL from $74.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upgraded BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price target for the company in a research note on Thursday, January 16th. Piper Sandler reissued an “overweight” rating and set a $85.00 price objective on shares of BILL in a report on Friday. Finally, KeyCorp upgraded BILL from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, BILL currently has an average rating of “Moderate Buy” and a consensus price target of $81.95.

BILL Stock Performance

Shares of NYSE BILL opened at $62.40 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.53 and a quick ratio of 1.53. BILL has a one year low of $43.11 and a one year high of $100.19. The business’s 50-day moving average price is $89.50 and its two-hundred day moving average price is $69.34. The company has a market capitalization of $6.46 billion, a P/E ratio of -189.08, a price-to-earnings-growth ratio of 164.86 and a beta of 1.76.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.38). BILL had a net margin of 0.59% and a return on equity of 1.54%. Analysts anticipate that BILL will post 0.04 earnings per share for the current fiscal year.

Insider Activity at BILL

In other BILL news, Director Alison Wagonfeld sold 779 shares of BILL stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $90.00, for a total transaction of $70,110.00. Following the sale, the director now owns 259 shares in the company, valued at $23,310. The trade was a 75.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On BILL

Hedge funds and other institutional investors have recently made changes to their positions in the business. Abdiel Capital Advisors LP increased its stake in BILL by 48.2% in the third quarter. Abdiel Capital Advisors LP now owns 5,121,139 shares of the company’s stock valued at $270,191,000 after acquiring an additional 1,666,316 shares during the period. Principal Financial Group Inc. lifted its stake in BILL by 5,201.3% during the fourth quarter. Principal Financial Group Inc. now owns 391,604 shares of the company’s stock worth $33,173,000 after purchasing an additional 384,217 shares during the period. Two Sigma Advisers LP boosted its holdings in BILL by 87.0% during the third quarter. Two Sigma Advisers LP now owns 690,800 shares of the company’s stock valued at $36,447,000 after purchasing an additional 321,400 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of BILL by 297.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 380,640 shares of the company’s stock valued at $20,083,000 after purchasing an additional 284,935 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of BILL by 45.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,833 shares of the company’s stock worth $47,264,000 after buying an additional 279,256 shares in the last quarter. 97.99% of the stock is owned by 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.