Mizuho Lowers BILL (NYSE:BILL) Price Target to $52.00

BILL (NYSE:BILL) had its price objective dropped by investment analysts at Mizuho from $60.00 to $52.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target points to a potential downside of 5.42% from the company’s current price.

A number of other brokerages have also recently weighed in on BILL. JPMorgan Chase & Co. dropped their price objective on BILL from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Robert W. Baird cut their price target on BILL from $68.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Piper Sandler lifted their price objective on BILL from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Keefe, Bruyette & Woods cut their target price on shares of BILL from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, August 23rd. Finally, William Blair reaffirmed a “market perform” rating on shares of BILL in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, BILL currently has an average rating of “Hold” and a consensus price target of $69.18.

BILL Stock Up 5.1 %

NYSE BILL opened at $54.98 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. BILL has a 52 week low of $43.11 and a 52 week high of $119.32. The business’s fifty day simple moving average is $50.46 and its 200-day simple moving average is $56.85. The firm has a market cap of $5.84 billion, a PE ratio of -69.59 and a beta of 1.61.

BILL (NYSE:BILL) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. BILL had a positive return on equity of 0.98% and a negative net margin of 4.21%. The firm had revenue of $343.67 million for the quarter, compared to analysts’ expectations of $328.27 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts anticipate that BILL will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In other BILL news, Director Brian Jacobs purchased 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $53.16 per share, for a total transaction of $265,800.00. Following the transaction, the director now directly owns 9,559 shares in the company, valued at $508,156.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO John R. Rettig purchased 21,124 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $49.40 per share, for a total transaction of $1,043,525.60. Following the completion of the purchase, the chief financial officer now directly owns 80,474 shares in the company, valued at approximately $3,975,415.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brian Jacobs acquired 5,000 shares of BILL stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $53.16 per share, with a total value of $265,800.00. Following the transaction, the director now owns 9,559 shares of the company’s stock, valued at $508,156.44. The disclosure for this purchase can be found here. Insiders have bought a total of 68,372 shares of company stock valued at $3,404,826 over the last quarter. Company insiders own 3.80% of the company’s stock.

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. increased its holdings in shares of BILL by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,976,318 shares of the company’s stock valued at $685,573,000 after purchasing an additional 94,786 shares in the last quarter. Abdiel Capital Advisors LP lifted its position in shares of BILL by 46.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 3,454,823 shares of the company’s stock valued at $181,793,000 after acquiring an additional 1,095,396 shares during the period. Coatue Management LLC acquired a new stake in shares of BILL in the 4th quarter worth approximately $163,218,000. Dimensional Fund Advisors LP increased its stake in BILL by 70.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,388,441 shares of the company’s stock valued at $73,049,000 after purchasing an additional 575,084 shares in the last quarter. Finally, Norges Bank purchased a new position in BILL in the 4th quarter valued at approximately $95,702,000. Institutional investors and hedge funds 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.