Morgan Stanley Lowers BILL (NYSE:BILL) Price Target to $65.00

BILL (NYSE:BILL) had its price objective decreased by equities research analysts at Morgan Stanley from $100.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 55.99% from the stock’s previous close.

BILL has been the subject of a number of other research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $105.00 target price on shares of BILL in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of BILL from $90.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company decreased their target price on shares of BILL from $65.00 to $57.00 and set an “underweight” rating on the stock in a research note on Friday, February 7th. Susquehanna upped their price target on BILL from $91.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reduced their price objective on BILL from $77.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.72.

BILL Price Performance

BILL traded down $0.54 during midday trading on Wednesday, hitting $41.67. 225,963 shares of the company traded hands, compared to its average volume of 2,268,419. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of -4,157.80, a PEG ratio of 29.46 and a beta of 1.88. The business has a 50 day simple moving average of $49.42 and a two-hundred day simple moving average of $68.74. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.44. BILL has a 52-week low of $36.55 and a 52-week high of $100.19.

BILL (NYSE:BILL) last posted its quarterly earnings data 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 return on equity of 1.53% and a net margin of 5.90%. On average, equities analysts forecast that BILL will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BILL

Several hedge funds have recently bought and sold shares of BILL. Groupama Asset Managment increased its stake in BILL by 162.8% during the 4th quarter. Groupama Asset Managment now owns 5,650,000 shares of the company’s stock worth $478,611,000 after buying an additional 3,500,000 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of BILL by 10.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,879,448 shares of the company’s stock worth $1,091,019,000 after buying an additional 1,241,432 shares during the period. Norges Bank acquired a new stake in BILL in the fourth quarter valued at approximately $99,906,000. Invesco Ltd. lifted its stake in BILL by 828.1% in the fourth quarter. Invesco Ltd. now owns 1,301,720 shares of the company’s stock worth $110,269,000 after acquiring an additional 1,161,457 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in BILL by 112.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,610,447 shares of the company’s stock worth $136,421,000 after acquiring an additional 852,863 shares during the last quarter. 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.