Needham & Company LLC Reiterates “Buy” Rating for BILL (NYSE:BILL)

BILL (NYSE:BILL)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $100.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 76.74% from the company’s current price.

Other equities analysts also recently issued reports about the company. Robert W. Baird lowered their price target on BILL from $78.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, April 22nd. BNP Paribas upgraded shares of BILL from an “underperform” rating to a “neutral” rating and set a $72.00 target price for the company in a report on Wednesday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of BILL from $93.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Citigroup boosted their price target on shares of BILL from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $60.00 price objective (down previously from $70.00) on shares of BILL in a report on Monday, April 1st. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $99.62.

BILL Price Performance

BILL stock opened at $56.58 on Friday. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $64.16 and a 200-day simple moving average of $70.94. BILL has a 12-month low of $51.94 and a 12-month high of $139.50.

BILL (NYSE:BILL) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The company had revenue of $318.50 million during the quarter, compared to the consensus estimate of $296.62 million. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. Research analysts expect that BILL will post 0.04 EPS for the current year.

Insider Activity at BILL

In other news, SVP Germaine Cota sold 920 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 5,093 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On BILL

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of BILL by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,881,532 shares of the company’s stock valued at $806,234,000 after buying an additional 162,428 shares in the last quarter. Lone Pine Capital LLC lifted its holdings in BILL by 39.7% in the third quarter. Lone Pine Capital LLC now owns 2,546,689 shares of the company’s stock valued at $276,494,000 after acquiring an additional 723,151 shares during the period. Coatue Management LLC acquired a new stake in BILL in the fourth quarter valued at $163,218,000. Abdiel Capital Advisors LP boosted its position in shares of BILL by 16.6% during the 4th quarter. Abdiel Capital Advisors LP now owns 1,711,392 shares of the company’s stock worth $139,632,000 after purchasing an additional 243,788 shares in the last quarter. Finally, Norges Bank acquired a new position in BILL during the fourth quarter worth about $95,702,000. Institutional investors and hedge funds 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.