Bill.com (NYSE:BILL) had its price target raised by Goldman Sachs Group from $60.00 to $90.00 in a note issued to investors on Monday, The Fly reports. Goldman Sachs Group’s target price would indicate a potential upside of 0.27% from the company’s previous close.

A number of other brokerages have also recently issued reports on BILL. Wells Fargo & Co began coverage on Bill.com in a research report on Wednesday, April 22nd. They issued an “equal weight” rating and a $48.00 target price for the company. Jefferies Financial Group upped their target price on Bill.com from $45.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, May 8th. They noted that the move was a valuation call. Canaccord Genuity reissued a “hold” rating and issued a $65.00 target price on shares of Bill.com in a research report on Friday, May 8th. Bank of America reissued a “buy” rating and issued a $85.00 target price on shares of Bill.com in a research report on Friday, May 8th. Finally, KeyCorp upped their target price on Bill.com from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Bill.com presently has an average rating of “Buy” and a consensus price target of $74.50.

NYSE:BILL opened at $89.76 on Monday. The business’s 50-day simple moving average is $75.38. Bill.com has a 1 year low of $23.61 and a 1 year high of $97.84.

Bill.com (NYSE:BILL) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The business had revenue of $41.23 million during the quarter, compared to analysts’ expectations of $37.02 million. Bill.com had a negative return on equity of 17.32% and a negative net margin of 17.73%. The firm’s quarterly revenue was up 46.0% on a year-over-year basis. Equities research analysts predict that Bill.com will post -0.51 earnings per share for the current year.

In other news, General Counsel Rajesh A. Aji sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $63.12, for a total transaction of $3,156,000.00. Following the completion of the transaction, the general counsel now directly owns 45,297 shares of the company’s stock, valued at approximately $2,859,146.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven F. Piaker sold 15,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $69.73, for a total value of $1,045,950.00. Following the transaction, the director now directly owns 67,418 shares of the company’s stock, valued at $4,701,057.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,842,676 shares of company stock valued at $251,922,504.

Several hedge funds have recently modified their holdings of the company. State Street Corp purchased a new position in shares of Bill.com during the 1st quarter worth approximately $3,113,000. Fred Alger Management LLC raised its stake in shares of Bill.com by 158.8% during the 1st quarter. Fred Alger Management LLC now owns 99,356 shares of the company’s stock worth $3,398,000 after buying an additional 60,968 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Bill.com in the 1st quarter valued at approximately $988,000. Engle Capital Management L.P. purchased a new position in Bill.com in the 1st quarter valued at approximately $9,576,000. Finally, Driehaus Capital Management LLC purchased a new position in Bill.com in the 1st quarter valued at approximately $705,000. 60.09% of the stock is owned by institutional investors and hedge funds.

Bill.com Company Profile

Bill.com Holdings, Inc provides cloud-based software that digitizes and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial-intelligence (AI)-enabled financial software platform. The company provides software-as-a-service, cloud-based payments 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, manage cash flows, and enhance office efficiency.

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Analyst Recommendations for Bill.com (NYSE:BILL)

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