Bill.com (NYSE:BILL) stock is soaring higher on Friday following several positive bits of news for the fintech company.
Here’s everything investors need to know about what has BILL stock on the rise today.
- To start off with, several analysts updated their stance on the stock today.
- Oppenheimer analyst Brian Schwartz upped his price target for the stock from $150 to $175.
- Jefferies analyst Samad Samana increased his price target for the stock from $135 to $155.
- BTIG analyst Matt VanVliet bumped up the price target for the stock from $150 to $180.
- Canaccord analyst Hynes David increased his price target from $105 to $150.
- KeyBanc analyst Josh Beck also continues to hold a buy rating for BILL stock with a price target of $165.
- The wave of price target increases for BILL stock comes after the release of its earnings report for the fiscal second quarter of 2021.
- This saw its losses per share of 3 cents beat out Wall Street’s estimate of 8 cents.
- The company’s revenue of $54.05 million also comes in above analysts’ estimates by 15.15%.
- Bill.com’s recent earnings beat is a strong catalyst for growth today.
- BILL stock has been underperforming of late and this earnings beat is just what it needed to get back on track.
- Investors seem to think so as well with more than 4 million shares have changed hands as of this writing.
- That’s quite the spike over its daily average trading volume of 1.37 million shares.
BILL stock was up 30.7% as of Friday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.