BILL Holdings, Inc. (NYSE:BILL) shares are trading higher Thursday. The company reported better-than-expected fourth-quarter earnings on Wednesday after the market closed.
What To Know: Bill reported adjusted earnings per share of 53 cents for the quarter, beating the consensus estimate of 41 cents. In addition, the company reported sales of $383.34 million, beating the consensus estimate of $376.17 million.
Bill also announced a new $300 million share repurchase program, citing confidence in its long-term strategy.
The company ended the quarter serving 493,800 businesses, processing $86 billion in payment volume and 33 million transactions.
Outlook: Bill sees first-quarter adjusted earnings per share of 49 cents to 52 cents, versus the consensus estimate of 54 cents. The company anticipates sales between $385 million and $395 million, versus the consensus estimate of $394.02 million.
In addition, Bill expects full-year adjusted earnings per share of $2.00 to $2.20, versus the consensus estimate of $2.08. The company sees sales between $1.58 billion and $1.62 billion, versus the consensus estimate of $1.45 billion.
Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.
- Keefe, Bruyette & Woods analyst Sanjay Sakhrani maintained a Market Perform rating on Bill and lowered the price target from $54 to $46.
- BMO Capital analyst Daniel Jester maintained a Market Perform rating on Bill and lowered the price target from $52 to $50.
- Evercore ISI Group analyst Peter Levine maintained an In-Line rating on Bill and lowered the price target from $50 to $48.
- Piper Sandler analyst Clarke Jeffries downgraded Bill from an Overweight rating to a Neutral rating and lowered the price target from $70 to $50.
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BILL Price Action: At the time of writing, Bill shares are trading 16.65% higher at $48.55, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
