Goldman Sachs Group Raises Bill.com (NYSE:BILL) Price Target to $90.00
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.
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.
Recommended Story: What are the Different Types of Leveraged Buyouts?
Receive News & Ratings for Bill.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bill.com and related companies with MarketBeat.com's FREE daily email newsletter.