Bill.com (NYSE:BILL) Updates FY23 Earnings Guidance

Bill.com (NYSE:BILLGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.23-0.38 for the period, compared to the consensus earnings per share estimate of ($0.31). The company issued revenue guidance of $955.5-973.5 million, compared to the consensus revenue estimate of $879.51 million. Bill.com also updated its FY 2023 guidance to $0.23-$0.38 EPS.

Bill.com Stock Up 16.7 %

BILL stock traded up $24.89 during midday trading on Friday, reaching $174.29. The company had a trading volume of 9,841,195 shares, compared to its average volume of 2,271,325. Bill.com has a 1 year low of $89.87 and a 1 year high of $348.49. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $18.17 billion, a P/E ratio of -60.31 and a beta of 2.26. The company has a 50 day moving average of $128.77 and a two-hundred day moving average of $165.62.

Bill.com (NYSE:BILLGet Rating) last released its earnings results on Thursday, August 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Bill.com had a negative net margin of 54.96% and a negative return on equity of 5.05%. The company had revenue of $200.22 million during the quarter, compared to the consensus estimate of $183.10 million. During the same quarter in the prior year, the firm earned ($0.44) EPS. The company’s revenue was up 155.8% compared to the same quarter last year. On average, equities research analysts expect that Bill.com will post -2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on BILL shares. KeyCorp raised their price target on shares of Bill.com from $150.00 to $200.00 and gave the company an overweight rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bill.com from $177.00 to $240.00 in a report on Friday. Wells Fargo & Company raised their price target on shares of Bill.com from $200.00 to $230.00 and gave the company an overweight rating in a report on Friday. Wolfe Research cut their price target on shares of Bill.com from $190.00 to $180.00 in a report on Wednesday, July 20th. Finally, BTIG Research cut their price target on shares of Bill.com from $375.00 to $300.00 in a report on Friday, May 6th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $240.24.

Insider Activity

In other news, insider Bora Chung sold 938 shares of Bill.com stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $124.84, for a total transaction of $117,099.92. Following the sale, the insider now directly owns 2,806 shares in the company, valued at approximately $350,301.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, General Counsel Rajesh A. Aji sold 802 shares of Bill.com stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $119.86, for a total transaction of $96,127.72. Following the completion of the transaction, the general counsel now directly owns 4,793 shares of the company’s stock, valued at approximately $574,488.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bora Chung sold 938 shares of Bill.com stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $124.84, for a total transaction of $117,099.92. Following the transaction, the insider now directly owns 2,806 shares of the company’s stock, valued at $350,301.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,624 shares of company stock worth $7,968,212. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Bill.com

Several institutional investors have recently added to or reduced their stakes in BILL. Vanguard Group Inc. raised its stake in shares of Bill.com by 3.1% in the first quarter. Vanguard Group Inc. now owns 8,842,430 shares of the company’s stock worth $2,005,375,000 after acquiring an additional 269,438 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Bill.com by 25.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,616,806 shares of the company’s stock worth $177,752,000 after acquiring an additional 324,354 shares during the last quarter. Northern Trust Corp raised its stake in shares of Bill.com by 8.8% in the first quarter. Northern Trust Corp now owns 546,719 shares of the company’s stock worth $123,991,000 after acquiring an additional 44,136 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Bill.com by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 506,960 shares of the company’s stock worth $114,974,000 after acquiring an additional 16,385 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its stake in shares of Bill.com by 93.1% in the first quarter. First Republic Investment Management Inc. now owns 153,792 shares of the company’s stock worth $34,878,000 after acquiring an additional 74,134 shares during the last quarter. 99.01% of the stock is owned by institutional investors.

Bill.com Company Profile

(Get Rating)

Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. It offers artificial intelligence enabled financial software platform that creates seamless connections among users, suppliers, and the clients.

See Also

Earnings History and Estimates for Bill.com (NYSE:BILL)

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