$BILL Stock Up After Two Analyst Upgrades

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BILL stock rose nearly 13% on November 5, 2021, after Jefferies and Canaccord upgraded the stock.

BillerudKorsnas upgraded to Hold from Underperform at Jefferies

On November 5, 2021, Jefferies analyst Cole Hathorn upgraded BillerudKorsnas to Hold from Underperform with a price target of SEK 170, up from SEK 140. Downside risk to the 2022 consensus EBITDA forecast has been reduced with supportive packaging demand and pricing trends into Q1, Hathorn said. However, he still sees better relative risk/reward in other packing stocks, the analyst added.

Bill.com price target raised to $366 from $284 at Canaccord

On November 5, 2021, Canaccord analyst Joseph Vafi raised the firm’s price target on Bill.com to $366 from $284 and kept a Buy rating on the shares. The analyst believes core organic revenue growth is benefiting from the ongoing network effects of the Bill platform, along with cross-selling opportunities already being realized from Divvy.

Bill.com Reports First Quarter Fiscal 2022 Financial Results

On November 4, 2021, Bill.com (NYSE: BILL), a leading provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs), announced financial results for the first fiscal quarter ended September 30, 2021.

  • Q1 Core Revenue Increased 164% Year-Over-Year
  • Q1 Organic Core Revenue Increased 78% Year-Over-Year
  • Q1 Transaction Fees Increased 319% Year-Over-Year
  • Q1 Organic Transaction Fees Increased 127% Year-Over-Year

Bill.com reported Q1 EPS of (15c) versus the consensus estimate of (20c). The company reported Q1 revenue of $116.4M versus the consensus estimate of $104.7M.

“Our organic core revenue growth increased 78% year-over-year in the first quarter, and our spend management solution continued its robust growth trajectory,” said John Rettig, Bill.com CFO. “Our performance was driven by strong adoption and usage of our solutions and solid execution across our team. We are in a strong position to extend our leadership in serving the SMB market.”

BILL Stock Technical Analysis

Bill Stock

We have excellent rising large players volume and a Pocket Pivot signal. Although BILL has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For an excellent entry, it is better to wait for a consolidation. Click here to sign up for email alerts on when BILL stock is a good entry.

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