BILL (NYSE:BILL) Price Target Lowered to $90.00 at The Goldman Sachs Group

BILL (NYSE:BILL) had its price target reduced by investment analysts at The Goldman Sachs Group from $104.00 to $90.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 40.32% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of BILL from $65.00 to $57.00 and set an “underweight” rating for the company in a report on Friday. Morgan Stanley upgraded shares of BILL from an “equal weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Thursday, January 16th. KeyCorp dropped their price objective on shares of BILL from $115.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday. Oppenheimer dropped their price objective on shares of BILL from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of BILL in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.95.

BILL Stock Performance

NYSE BILL traded down $32.21 during trading on Friday, reaching $64.14. The company’s stock had a trading volume of 22,483,744 shares, compared to its average volume of 3,176,042. BILL has a twelve month low of $43.11 and a twelve month high of $100.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.53 and a current ratio of 1.53. The business’s fifty day moving average price is $89.50 and its 200-day moving average price is $69.34. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of -194.39, a P/E/G ratio of 164.86 and a beta of 1.76.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its holdings in shares of BILL by 27.8% during the third quarter. Handelsbanken Fonder AB now owns 27,156 shares of the company’s stock worth $1,433,000 after purchasing an additional 5,900 shares during the last quarter. Private Advisory Group LLC acquired a new position in shares of BILL during the third quarter worth approximately $3,344,000. Washington Capital Management Inc. acquired a new position in shares of BILL during the third quarter worth approximately $274,000. Aaron Wealth Advisors LLC acquired a new position in shares of BILL during the third quarter worth approximately $220,000. Finally, Blue Trust Inc. raised its position in shares of BILL by 1,167.5% during the third quarter. Blue Trust Inc. now owns 1,914 shares of the company’s stock worth $101,000 after purchasing an additional 1,763 shares during the period. 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.