Bill.com Holdings, Inc. ($BILL) target price was reduced by KeyCorp while analysts remain optimistic about future growth.

On April 29, 2023, it was reported that Bill.com Holdings, Inc. ($BILL) had its target price reduced by equities research analysts at KeyCorp from $100.00 to $95.00 in a research report issued to clients and investors on Friday. However, KeyCorp’s price target still reveals a potential upside of 21.27% from the stock’s current price.

Bill.com Holdings, Inc is a cloud-based software company that offers financial solutions for small and midsize businesses around the globe. The company provides software-as-a-service for automated accounts payable and receivable transactions, cloud-based payments, and spend management products that enable users to connect with their suppliers and customers effortlessly.

Bill.com had revenue of $260.01 million during the last quarter, compared to analyst estimates of $242.59 million. It reported negative net margins of up to 40.65% and negative return on equity of 6.23%, but exceeded earnings per share (EPS) expectations. Despite the unexpected slump in Bill.com’s target price reduction by KeyCorp, such reductions are not uncommon in the stock market industry. Sell-side analysts forecast that $BILL will post -2 EPS for the current fiscal year, investors should keep track of how this prediction unfolds over time before making any investment decisions regarding Bill.com Holdings, Inc.’s stock options.

In conclusion, while some investors may view Bill.com target price reduction as negative news in light of current market conditions, others may see it as an opportunity to acquire shares at a discounted rate with hopes that they will rise again in due time according to future predictions or market speculation.

Bill.com Holdings, Inc provides cloud-based software that simplifies, digitizes, and automates back-office financial operations for small and midsize businesses worldwide. The company offers a suite of software-as-a-service, cloud-based payments, and spend management products designed to help users automate accounts payable and accounts receivable transactions while connecting them with their suppliers and/or customers to do business.

In recent months, several brokerages have issued reports on Bill.com, with Piper Sandler reducing their price target from $140.00 to $110.00 and Oppenheimer lowering their price objective from $150.00 to $125.00. Despite these adjustments, Bill.com still holds strong fundamentals, closing at $78.34 following its Friday opening priced at $79.09 for its 50-day simple moving average and $101.22 for its 200-day simple moving average.

CFO John Rettig sold 6,008 shares of BILL stock at an average price of $93.01 per share on February 6th for a total transaction value of $558K. Insider Rajesh Aji sold two separate portions totaling up to 847 shares in the same quarter: his first transaction on February 15th when he sold his initial set of shares at an average price of $99; his second transaction involved trading away another set worth roughly the same amount. These transactions were significant for both insiders.

Raymond James & Associates, Dimensional Fund Advisors LP, and MetLife Investment Management LLC are two institutional investors that have modified their holdings in Bill.com Holdings Inc. during Q1. Raymond James & Associates increased its stake in shares of Bill.com Holdings Inc by 3.8% during the first quarter, acquiring an additional 306 shares and now owning over 8K shares valued at $1.9M. Dimensional Fund Advisors LP and MetLife Investment Management LLC also modified their holdings in $BILL, buying several thousand shares worth $30M and $1.3M, respectively.

Overall, analysts have noted growth potential for Bill.com as interest in digitizing and automating business operations continues to surge globally. According to Bloomberg, the company presently has a consensus rating of “Moderate Buy” with a price target of just over $140 per share – highlighting continued investor momentum headed into Q2 and beyond.