Bill.com (NYSE:BILL) Updates Q2 2022 Earnings Guidance

Bill.com (NYSE:BILL) updated its second quarter 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $-0.180-$-0.170 for the period, compared to the Thomson Reuters consensus estimate of $-0.230. The company issued revenue guidance of $130 million-$131 million, compared to the consensus revenue estimate of $117.04 million.Bill.com also updated its FY 2022 guidance to $-0.800-$-0.770 EPS.

A number of analysts have recently commented on the company. Bank of America lifted their target price on Bill.com from $185.00 to $320.00 and gave the stock a buy rating in a research report on Friday, August 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Bill.com in a research report on Tuesday, October 19th. They set a buy rating and a $360.00 target price on the stock. Sumitomo Mitsui Financial Group assumed coverage on Bill.com in a research report on Wednesday, November 3rd. They set an outperform rating and a $350.00 target price on the stock. Guggenheim lifted their target price on Bill.com from $214.00 to $280.00 and gave the stock a buy rating in a research report on Friday, August 27th. Finally, Jefferies Financial Group upgraded Bill.com from a hold rating to a buy rating and lifted their target price for the stock from $155.00 to $250.00 in a research report on Thursday, August 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Bill.com presently has an average rating of Buy and an average price target of $287.00.

BILL stock traded up $3.74 during trading on Thursday, hitting $298.76. The company had a trading volume of 2,024,120 shares, compared to its average volume of 1,379,083. Bill.com has a 1-year low of $108.52 and a 1-year high of $348.49. The firm has a 50-day moving average price of $295.43 and a 200-day moving average price of $231.21. The firm has a market cap of $30.64 billion, a PE ratio of -165.98 and a beta of 2.32. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.16.

Bill.com (NYSE:BILL) last announced its quarterly earnings data on Thursday, November 4th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.06. Bill.com had a negative return on equity of 5.22% and a negative net margin of 52.34%. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $104.59 million. During the same quarter in the previous year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was up 151.9% compared to the same quarter last year. Sell-side analysts anticipate that Bill.com will post -2.31 earnings per share for the current year.

In other news, CRO Thomas J. Clayton sold 94 shares of the business’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $292.53, for a total transaction of $27,497.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bora Chung sold 799 shares of the business’s stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $284.92, for a total value of $227,651.08. Following the sale, the insider now directly owns 27,255 shares in the company, valued at approximately $7,765,494.60. The disclosure for this sale can be found here. Insiders sold a total of 526,293 shares of company stock worth $155,562,454 in the last ninety days. 5.70% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Bill.com stock. Morgan Stanley boosted its stake in Bill.com Holdings, Inc. (NYSE:BILL) by 538.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 378,675 shares of the company’s stock after buying an additional 319,329 shares during the quarter. Morgan Stanley owned approximately 0.40% of Bill.com worth $69,366,000 as of its most recent filing with the SEC. 87.02% of the stock is owned by institutional investors.

About Bill.com

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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