BILL Holdings, Inc. (BILL) Goldman Sachs Communacopia + Technology Conference 2026 September 10, 2026 6:05 PM EDT
Company Participants
René Lacerte - Founder, CEO & Chairperson of the Board
Conference Call Participants
William Nance - Goldman Sachs Group, Inc., Research Division
Presentation
William Nance
Goldman Sachs Group, Inc., Research Division
All right. We are going to start with the next session. Pleased to have Rene Lacerte here, the Founder and CEO of BILL. Rene, you've been here for the last several years and looking forward to the conversation again today.
René Lacerte
Founder, CEO & Chairperson of the Board
Yes. Likewise, Will, thank you.
Question-and-Answer Session
William Nance
Goldman Sachs Group, Inc., Research Division
So look, AI is reshaping the way that businesses expect work to get done, and BILL sits at the heart of financial operations for 0.5 million SMBs. You said the shift is from a do-it-yourself to a do it with you to a do-it-for-you mindset. And you've rolled out a number of agents within the products to get at that goal. So at a high level, how are you thinking about the role that AI will play in BILL's products going forward? And what does AI native actually mean for the customer experience 12 to 24 months down the line?
René Lacerte
Founder, CEO & Chairperson of the Board
Yes. I mean it's -- I think we all know that AI is a game changer. It's a game changer in how you do work and in the experiences that we are able to create for our customers. And so as we move customers, which the premise of the company was to go from the do-it-yourself to the do it with you into this, what I would call do-it-for-me because I think AI is a very personal experience, that do-it-for-me means that we have to
BILL Holdings, Inc. (NYSE:BILL – Get Free Report) CEO Rene Lacerte sold 42,248 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $50.17, for a total value of $2,119,582.16. Following the sale, the chief executive officer directly owned 163,125 shares of the company’s stock, valued at approximately $8,183,981.25. This trade represents a 20.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
BILL Price Performance NYSE:BILL opened at $49.11 on Monday. BILL Holdings, Inc. has a 52 week low of $31.41 and a 52 week high of $57.21. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $4.19 billion, a P/E ratio of -377.77, a P/E/G ratio of 0.74 and a beta of 1.10. The stock’s fifty day moving average is $45.47 and its two-hundred day moving average is $40.92.
BILL (NYSE:BILL – Get Free Report) last released its quarterly earnings results on Wednesday, August 19th. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.13. The business had revenue of $436.19 million during the quarter, compared to analysts’ expectations of $430.55 million. BILL had a positive return on equity of 3.74% and a negative net margin of 0.68%.The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. BILL has set its Q1 2027 guidance at 0.960-1.000 EPS and its FY 2027 guidance at 3.560-3.790 EPS. Equities analysts expect that BILL Holdings, Inc. will post 2.22 EPS for the current year.
Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently made changes to their positions in BILL. ER Collective Holdings LLC acquired a new position in BILL during the 4th quarter worth $464,588,000. California State Teachers Retirement System raised its position in BILL by 3,421.2% in the 2nd quarter. California State Teachers Retirement System now owns 3,531,603 shares of the company’s stock valued at $127,703,000 after purchasing an additional 3,431,307 shares in the last quarter. Senvest Management LLC boosted its stake in shares of BILL by 155.8% in the 4th quarter. Senvest Management LLC now owns 2,573,261 shares of the company’s stock valued at $140,346,000 after buying an additional 1,567,186 shares during the period. Contour Asset Management LLC boosted its stake in shares of BILL by 45.5% in the 4th quarter. Contour Asset Management LLC now owns 4,710,570 shares of the company’s stock valued at $256,914,000 after buying an additional 1,472,132 shares during the period. Finally, Marshall Wace LLP grew its position in shares of BILL by 190.8% during the third quarter. Marshall Wace LLP now owns 2,166,899 shares of the company’s stock worth $114,781,000 after buying an additional 1,421,785 shares in the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock. Analysts Set New Price Targets A number of equities research analysts have weighed in on BILL shares. UBS Group lifted their price target on shares of BILL from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Needham & Company LLC restated a “buy” rating on shares of BILL in a report on Thursday, August 20th. BTIG Research reaffirmed a “buy” rating and set a $60.00 price objective on shares of BILL in a research report on Thursday, August 20th. Truist Financial increased their price objective on shares of BILL from $44.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, September 1st. Finally, The Goldman Sachs Group lifted their target price on shares of BILL from $50.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.67.
Read Our Latest Stock Analysis on BILL
BILL Company Profile (Get Free Report)
BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management 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, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move and maximize their money, announced today its participation in the Goldman Sachs Communacopia + Technology Conference in San Francisco on Thursday, September 10, 2026 at 3:05 p.m. PDT. A live webcast of the event will be accessible at https://investor.bill.com. Webcast replays can be accessed from BILL's Investor Relations website for approximately.
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Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
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Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.8% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
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To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: BILL Holdings (BILL - Free Report) BILL Holdings, Inc. primarily serves small and midsize businesses through its AI-powered financial operations platform that connects customers with their suppliers and clients. Headquartered in San Jose, CA, BILL’s software is used by SMB customers to generate and process invoices, route approvals, make and receive payments, manage employee expenses and sync with their accounting system to monitor cash.
BILL is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Computer and Technology stock. BILL has a Momentum Style Score of A, and shares are up 4.3% over the past four weeks.
For fiscal 2027, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.36 to $3.67 per share. BILL boasts an average earnings surprise of +19.8%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, BILL should be on investors' short list.
When a small business needs to pay its electricity bill or collect payment from a stubborn client, it often encounters the same problem: a tangled mess of manual spreadsheets and paper checks. Bill.com Holdings(BILL -1.95%) replaces that friction with a cloud-based platform that automates accounts payable and receivable for small and mid-sized businesses. The stock, which trades at $47.82 as of Aug. 21, 2026, has seen a 13% gain over the past year as the company shifts from rapid expansion to profitable, sustainable operations.
Our proprietary Hidden Gems scoring system assigns Bill.com Holdings an overall Superscore of 77 out of 100, placing it in the Strong category. The Superscore is an AI-powered score that evaluates a company's overall strength by combining financial performance, product market position, technological capabilities, leadership quality, and relative valuation. It represents the unification of all our scores into a single score for public companies, with five rating bands: Exceptional (90-100), Strong (75-89), Above Average (60-74), Average (40-59), and Cautious (0-39). A 77 places it in the Top ~14% of every company we score, ahead of roughly 86 out of every 100 companies in our database. This score is a data-driven input, and this report balances the company's recent operational wins against the risks that keep the score from moving higher, allowing you to form your own conviction.
Why Bill Has a 77 SuperscoreNetwork scale: With 9.2 million members on its platform, the company processes roughly 1% of U.S. GDP annually, creating a density of data and trust that creates significant barriers to entry.Operational inflection: After years of heavy spending, the company reached a milestone in fiscal 2025, reporting positive GAAP net income of $24 million, signaling that its software model has finally reached the necessary scale for profitability.Disciplined capital allocation: The board authorized a $1 billion share repurchase program, demonstrating management's confidence in the company's long-term free cash flow generation.Embedded distribution: By integrating directly into the workflows of over 85 of the top 100 accounting firms, the company secures a reliable, low-cost channel to acquire new business customers.Operational leverage: Revenue grew 14% year-over-year in the fourth quarter of fiscal 2026, while operating expenses increased by only 3%, indicating the company can grow its bottom line without matching spending growth.Why Is Bill's Superscore Not Higher?Decelerating growth: The 14% revenue growth rate in fiscal 2026 marks a significant slowdown from its 57% 5-year compound annual growth rate, as macroeconomic headwinds dampen spending by small and mid-sized businesses.Competitive intensity: The fintech landscape has become increasingly crowded, with agile rivals like Ramp and Brex aggressively targeting the company's core small-business customer base.Platform reliability questions: Persistent user feedback indicates frustration with customer support and payment processing, posing a long-term risk to customer retention and brand loyalty.Execution risks: The company's recent 30% workforce reduction to support an AI-native shift introduces uncertainty, as management relies on automated agents to solve for both cost efficiency and product differentiation.Hidden Gems Database Scores at a GlanceScoreScore (out of 100)RankSupporting Data PointProduct (1Y)60Bottom ~50%Revenue growth moderated to 14% in fiscal 2026 amid increased competitive pressure.Product (5Y)77Top ~14%The company scaled to 8.3 million members and maintained gross margins above 80%.Financial (1Y)78Top ~16%The company achieved its first full year of GAAP profitability in fiscal 2025.Financial (5Y)78Top ~10%Operating cash flow reached $351 million in fiscal 2025, demonstrating massive scale.Leaders63Bottom ~35%Activist influence has introduced leadership changes and board oversight requirements.AI53Top ~16%Internal AI agent deployment is underway, but core payment features remain easily replicable.Valuation Risk85Top ~2%The stock trades at a price-to-sales ratio of 2.1, suggesting lower valuation risk.Is Bill Right For Your Portfolio?This stock warrants a closer look if...
You are seeking exposure to best-in-class small-cap tech stocks that have successfully transitioned from hyper-growth to operational profitability.You believe that a scaled, two-sided payments network provides a durable competitive advantage that smaller fintech start-ups will struggle to dislodge.You may want to keep researching before buying if...
You are uncomfortable with the risks inherent in a business where transaction volume is highly sensitive to the broader economic health of small and medium-sized businesses.You are concerned that management's recent focus on drastic cost-cutting and AI-native shifts might compromise the quality of the customer support experience.The Superscore provides a data-driven view into the company's health, but it is not a replacement for your own due diligence; always weigh these metrics against your specific financial goals and risk tolerance.
My 5-year prediction for Bill’s stockThis looks like a pivotal moment for Bill Holdings. The stock is up 59% from June's multi-year low, but it's still down 83% over the last five years. Priced at just 12 times trailing free cash flow, it's an affordable fintech stock with expanding margins and reasonable revenue growth.
And the company's buyback program is a serious vote of confidence in future growth prospects. Bill repurchased $300 million of common stock in Q4 2026 and has $400 million left to spend of a $1 billion authorization that was signed in May 2026. In other words, the company kept buying back stock after the quarter closed on June 30.
Bill is pursuing several promising growth projects, adding AI-native features to its financial operations platform and boosting its sales and marketing budgets. Yet, management sees extraordinary value in stock buybacks, committing about half of its cash reserves to that policy. The market cap has ranged between $3.2 billion and $4.6 billion since the billion-dollar buyback policy was announced.
That's either a bunch of management spin or a genuine value-building play on an undervalued stock. I think it's the latter, inspired by improving financials and the ongoing AI boom. Bill is putting its money where its mouth is. Color me surprised if Bill isn't trading significantly higher in five years.
The Hidden Gems Superscore reflects The Motley Fool's proprietary AI-driven evaluation of a company across product, financial, leadership, and valuation pillars as of the article date and may change over time. Performance figures are point-in-time. Past performance does not guarantee future results.
After reaching an important support level, BILL Holdings, Inc. (BILL - Free Report) could be a good stock pick from a technical perspective. BILL recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.
There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a longer-term moving average. Typically, a golden cross involves the 50-day and the 200-day moving averages, since bigger time periods tend to form stronger breakouts.
A successful golden cross event has three stages. It first begins when a stock's price on the decline bottoms out. Then, its shorter moving average crosses above its longer moving average, triggering a positive trend reversal. The third and final phase occurs when the stock maintains its upward momentum.
A golden cross contrasts with a death cross, another widely-followed chart pattern that suggests bearish momentum could be on the horizon.
BILL could be on the verge of a breakout after moving 11.5% higher over the last four weeks. Plus, the company is currently a #1 (Strong Buy) on the Zacks Rank.
Looking at BILL's earnings expectations, investors will be even more convinced of the bullish uptrend. For the current quarter, there have been 6 changes higher compared to none lower over the past 60 days, and the Zacks Consensus Estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on BILL for more gains in the near future.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.8% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: BILL Holdings (BILL - Free Report) BILL Holdings, Inc. primarily serves small and midsize businesses through its AI-powered financial operations platform that connects customers with their suppliers and clients.
BILL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 14.23; value investors should take notice.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2027. The Zacks Consensus Estimate has increased $0.07 to $3.38 per share. BILL boasts an average earnings surprise of +19.8%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, BILL should be on investors' short list.
Shares of BILL Holdings, Inc. (NYSE:BILL – Get Free Report) have been given an average rating of “Hold” by the twenty-three analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $57.05.
BILL has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of BILL from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 20th. Truist Financial raised their price objective on BILL from $38.00 to $44.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Wall Street Zen upgraded BILL from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. TD Cowen initiated coverage on BILL in a research note on Monday, June 22nd. They issued a “buy” rating and a $43.00 target price for the company. Finally, Oppenheimer set a $55.00 price target on BILL and gave the stock an “outperform” rating in a report on Friday, May 8th.
View Our Latest Stock Analysis on BILL
Hedge Funds Weigh In On BILL Several institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. grew its stake in BILL by 21.8% in the fourth quarter. UMB Bank n.a. now owns 1,336 shares of the company’s stock valued at $73,000 after purchasing an additional 239 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of BILL by 1.7% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,100 shares of the company’s stock worth $693,000 after purchasing an additional 300 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of BILL by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 25,175 shares of the company’s stock worth $1,165,000 after purchasing an additional 327 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of BILL by 46.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,267 shares of the company’s stock worth $69,000 after purchasing an additional 401 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of BILL by 147.3% in the 2nd quarter. Versant Capital Management Inc now owns 722 shares of the company’s stock valued at $26,000 after buying an additional 430 shares during the last quarter. 97.99% of the stock is currently owned by institutional investors and hedge funds. BILL Price Performance BILL stock opened at $48.15 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $4.11 billion, a P/E ratio of -370.38, a PEG ratio of 1.02 and a beta of 1.13. The business has a 50-day moving average of $43.21 and a 200-day moving average of $40.87. BILL has a 1 year low of $31.41 and a 1 year high of $57.21.
BILL (NYSE:BILL – Get Free Report) last released its quarterly earnings data on Wednesday, August 19th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.13. BILL had a negative net margin of 0.68% and a positive return on equity of 3.74%. The business had revenue of $436.19 million for the quarter, compared to analyst estimates of $430.55 million. During the same quarter last year, the firm earned $0.53 EPS. BILL’s quarterly revenue was up 13.8% compared to the same quarter last year. BILL has set its Q1 2027 guidance at 0.960-1.000 EPS and its FY 2027 guidance at 3.560-3.790 EPS. On average, equities analysts anticipate that BILL will post 1.56 EPS for the current year.
BILL Company Profile (Get Free Report)
BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management 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, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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BILL Holdings delivered solid FY4Q 2026 results, exceeding guidance and consensus on revenue and EPS, with notable operating profitability improvement. BILL's emerging AI moat leverages a massive proprietary financial data set and a unique 9 million-member network, supporting its competitive position and future growth. Share buybacks have reduced outstanding shares by 15 million, and BILL remains undervalued at 2.1x FY2027E revenue, with an updated price target of $86 (approximately 83% upside).
BILL Holdings (BILL - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The upward trend in estimate revisions for this payment processing software company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for BILL Holdings, as there has been strong agreement among the covering analysts in raising estimates.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe earnings estimate of $0.92 per share for the current quarter represents a change of +50.8% from the number reported a year ago.
Over the last 30 days, the Zacks Consensus Estimate for BILL Holdings has increased 102.38% because four estimates have moved higher compared to no negative revisions.
Current-Year Estimate RevisionsFor the full year, the company is expected to earn $3.67 per share, representing a year-over-year change of +32.5%.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for BILL Holdings. Over the past month, six estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 46.46%.
Favorable Zacks RankThe promising estimate revisions have helped BILL Holdings earn a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineInvestors have been betting on BILL Holdings because of its solid estimate revisions, as evident from the stock's 7.7% gain over the past four weeks. As its earnings growth prospects might push the stock higher, you may consider adding it to your portfolio right away.
BILL Holdings Inc (NYSE:BILL) on Wednesday reported better-than-expected fourth-quarter financial results and issued FY27 adjusted EPS guidance above estimates.
BILL Holdings reported quarterly earnings of 84 cents per share which beat the analyst consensus estimate of 70 cents per share. The company reported quarterly sales of $436.186 million which beat the analyst consensus estimate of $430.553 million.
BILL Holdings said it sees FY2027 adjusted EPS of $3.56-$3.79, versus market estimates of $3.35. The company sees sales of $1.807 billion-$1.857 billion, versus expectations of $1.848 billion.
“Our results for the year demonstrate the durability of our business. We continue to see strong demand for BILL’s integrated platform, with increasing adoption of our AI capabilities,” said René Lacerte, BILL CEO and Founder. “The structural changes we’ve implemented position us well to develop and deliver AI-native solutions for the Fortune 5 million.”
BILL Holdings shares fell 1.8% to trade at $46.86 on Thursday.
These analysts made changes to their price targets on BILL Holdings following earnings announcement.
UBS analyst Taylor McGinnis maintained the stock with a Buy and raised the price target from $55 to $60. BTIG analyst Andrew Harte reiterated the stock with a Buy and maintained a $60 price target. Latest Private Market Opportunities
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Key Takeaways BILL is making fiscal 2027 an AI-native platform year, with automation, unified selling and profitable growth.More than 175,000 businesses have used BILL's AI agents, with tiered subscriptions and usage pricing planned. Fiscal 2027 guidance calls for $1.669B-$1.719B core revenues, 23-24% margin and well over $125M GAAP profit. BILL Holdings, Inc. (BILL - Free Report) used its fiscal fourth-quarter 2026 earnings call to frame fiscal 2027 around an AI-native product shift, a unified platform sales motion and tighter focus on profitable growth.
Management also set a longer-term margin framework while acknowledging near-term disruption from sales changes, Spend and Expense dynamics and a narrower bank-partner strategy.
BILL Lays Out an AI-Native Road MapFounder, CEO and chairperson René Lacerte said more than 175,000 businesses have used BILL’s AI agents across accounts payable and Spend and Expense.
Lacerte said the company is moving toward an agentic platform that automates financial operations by default. He highlighted W-9 collection, invoice coding and touchless transaction agents as evidence of adoption.
In Q&A, a Needham analyst asked about monetization. Lacerte said BILL plans to pursue better early-life-cycle conversion and retention while moving toward platform fees, tiered agent subscriptions and consumption-based pricing.
BILL Holdings Sets a Profitability FrameworkQ4 non-GAAP EPS of $0.84 beat the Zacks Consensus Estimate of $0.69 by 21.70%, while revenues of $436.20 million topped the consensus mark of $429.70 million by 1.50%.
CFO Rohini Jain said BILL is positioned for low-double-digit to mid-teens core revenue growth with expanding margins over time and aims to exceed its Rule of 40 threshold exiting fiscal 2027.
For fiscal Q1, BILL expects core revenues of $398 million to $408 million and non-GAAP EPS of $0.96 to $1.00.
For fiscal 2027, BILL guided core revenues of $1.669 billion to $1.719 billion and a non-GAAP operating margin of 23% to 24%. It also expects well over $125 million of GAAP profit.
BILL Shifts Sales Toward Higher-ROI CustomersLacerte said the entire sales team is now trained to sell BILL as a single platform rather than separate products, with multiproduct adoption a central priority.
Joint AP and Spend and Expense customers grew 35% year over year in Q4, while customers present in both periods posted net revenue retention of 111%. Jain said the company added about 1,800 net new customers, below recent trends, partly because of restructuring.
A KeyBanc analyst pressed on customer additions. Jain said July showed recovery and projected 2,500 to 3,000 net additions in the first quarter, with the range expected to move higher over the remainder of the year.
BILL Holdings Sees Mix Changing the Growth MathA Morgan Stanley analyst asked what drove stronger AP/AR payment volume. Jain pointed mainly to ACH usage from larger newly acquired customers and stronger activity in manufacturing and construction.
Jain said mid-market customers generate roughly three times the ARPU and four times the TPV of the average BILL customer, but their heavier ACH mix carries lower take rates.
She added that core ARPU rose 3% sequentially. The trade-off reinforces management’s focus on customer quality and broader monetization rather than customer counts alone.
BILL Tightens Spend and Embed EconomicsJain said fiscal 2027 guidance includes three percentage points of growth headwind, with two points tied to Spend and Expense dynamics and one point to the bank channel. She expects fiscal Q2 to mark the growth trough.
BILL will begin presenting revenue net of rewards expense in the first quarter. Jain said the change does not affect operating or net income and should sharpen the focus on unit economics.
Lacerte said BILL is consolidating embedded finance around standardized Embed 2.0, even if some existing bank relationships do not continue. He also acknowledged Supplier Payments Plus progressed more slowly than initially expected, though committed TPV has reached almost $800 million.
BILL Holdings' Focus Turns to ExecutionLacerte characterized fiscal 2026 as a year of restructuring, capital returns and platform development, with fiscal 2027 centered on executing through a smaller, more aligned organization.
Jain’s outlook paired margin expansion and GAAP profitability goals with a selective approach to revenue quality, leaving sales execution, S&E normalization and AI monetization as key operating priorities.
What the Zacks Signal Says for BILLBILL currently carries a Zacks Rank #4 (Sell), with a Value Score of C, Growth Score of B, Momentum Score of B and VGM Score of B.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Under the Zacks framework, the Rank takes precedence over favorable Style Scores because it reflects the direction of earnings estimate revisions.
The B scores indicate relatively favorable growth, momentum and combined VGM characteristics, while the C Value Score is less favorable. The Zacks Rank can change as analysts revise estimates following the just-reported results.
BILL Holdings remains a buy, with strong Q4 results, accelerating payment volumes, and attractive valuation multiples despite recent gains. BILL's business model is resilient, with only 17% of revenue tied to headcount and the majority driven by rising payment volumes. AI adoption is fueling both customer spend and internal efficiencies, with TPV from AI-native companies doubling sequentially and new AI-powered features forthcoming.
BILL Holdings, Inc. (BILL) Q4 2026 Earnings Call August 19, 2026 4:30 PM EDT
Company Participants
Jon Andrews - Vice President of Investor Relations
René Lacerte - Founder, CEO & Chairperson of the Board
Rohini Jain - Chief Financial Officer & Principal Accounting Officer
Conference Call Participants
Tien-Tsin Huang - JPMorgan Chase & Co, Research Division
Scott Berg - Needham & Company, LLC, Research Division
Christopher Quintero - Morgan Stanley, Research Division
William Nance - Goldman Sachs Group, Inc., Research Division
Andrew Schmidt - KeyBanc Capital Markets Inc., Research Division
Christopher Svensson - Deutsche Bank AG, Research Division
Kenneth Suchoski - Autonomous Research US LP
Presentation
Operator
Hello, everyone. Thank you for joining us, and welcome to BILL's Fourth Quarter and Fiscal Year 2026 Earnings Call. [Operator Instructions]
I will now hand the conference over to Jack Andrews, Vice President, Investor Relations. Jack, please go ahead.
Jon Andrews
Vice President of Investor Relations
Thank you. Good afternoon, everyone. Welcome to BILL's Fiscal Fourth Quarter 2026 Earnings Conference Call. We issued our earnings press release a short time ago and filed the related Form 8-K with the SEC. The press release can be found on our Investor Relations website at investor.bill.com.
Joining me on the call today are Rene Lacerte, Chairman, CEO and Founder; and Rohini Jain, CFO. Our remarks today include forward-looking statements about our business, products and expectations that involve many assumptions, risks and uncertainties. Actual results could differ materially from those expressed or implied by such statements. On today's call, we will also refer to both GAAP and non-GAAP financial measures. Please refer to our earnings press release and investor presentation posted today and to our periodic reports filed with the SEC for additional information about such risks and uncertainties and for reconciliations of non-GAAP measures to GAAP.
Bill Holdings Inc. (NYSE:BILL) posted its fourth-quarter results after Wednesday’s closing bell, beating estimates on the top and bottom lines. Here’s a look at the details inside the report.
BILL stock is moving. Watch the price action here. Bill Holdings reported quarterly earnings of 84 cents per share, which beat the consensus estimate of 70 cents by 18.3%.
Quarterly revenue came in at $436.19 million, which beat the Street estimate of $430.55 million.
Bill reported the following quarterly highlights:
Served 479,300 businesses using BILL solutions as of the end of the fourth quarter. Processed $98 billion in total payment volume in the fourth quarter, an increase of 14% year-over-year. Processed 37 million transactions during the fourth quarter, an increase of 14% year-over-year. Core revenue, which consists of subscription and transaction fees, was $400.5 million, an increase of 16% year-over-year. Subscription fees were $76.2 million, up 11% year-over-year. Transaction fees were $324.3 million, up 17% year-over-year. Float revenue, which consists of interest on funds held for customers, was $35.7 million. “Our results for the year demonstrate the durability of our business. We continue to see strong demand for BILL’s integrated platform, with increasing adoption of our AI capabilities,” said René Lacerte, BILL CEO and founder.
Looking AheadBILL expects fiscal 2027 adjusted EPS of $3.56 to $3.79, versus the $3.35 analyst estimate, and revenue in a range of $1.81 billion to $1.86 billion, versus the $1.85 billion estimate.
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BILL Stock Price Activity: According to data from Benzinga Pro, Bill stock was up 1.17% to $48.27 in Wednesday’s extended trading.
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3 Stocks That Benefit if Companies Cut Costs in 2026BILL NYSE: BILL said its fiscal fourth quarter of 2026 was marked by organizational restructuring, expanded use of artificial intelligence tools and continued profitability gains, as the company moves toward a unified platform sales strategy and targets low-double-digit to mid-teens core revenue growth over the longer term.
Chairman, CEO and Founder René Lacerte said the company completed organizational changes intended to accelerate its transition to an “AI-native” business. Core revenue grew 16% year over year in the fourth quarter, while non-GAAP operating margin exceeded 23%.
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AI adoption expands across financial workflows Lacerte said more than 175,000 businesses have used BILL’s AI agents across spend and expense and accounts payable functions. The company’s W-9 agent, which handles outreach, collection and IRS validation, was used by more than 40,000 organizations after more than tripling sequentially. The agent has collected more than 240,000 W-9 forms, according to the company.
BILL’s invoice coding agent, launched in February, has been used by more than 60,000 companies and eliminated about 90% of coding steps for a multi-line invoice, Lacerte said. The company said the tool reduced processing time across its accounts payable customers by nearly half.
Its touchless transactions agent, made generally available to Spend & Expense customers in late April, automated more than 7 million transaction fields for 30,000 customers. Meanwhile, the Pay For You agent completed more than 30,000 card transactions without human interaction during the quarter.
The company also highlighted AI-enabled underwriting in its invoice financing business. Invoice financing volume and revenue each grew about 30% year over year in fiscal 2026, while the expected loss rate improved by more than 50%, Lacerte said.
“As more and more transactions are executed on our platform, our models get smarter, our risk selection improves, and we can extend more credit at better economics for the customer and us,” Lacerte said.
Restructuring and platform strategy BILL simplified its structure, reduced management layers and shifted from a hybrid general-manager model to a functional model during the fourth quarter. The company appointed Jonathan Leaf as chief revenue officer, promoted Mike Cieri to chief product officer and named founding engineer Eric Chan as chief technology officer.
For fiscal 2027, the company identified three priorities: delivering AI-native customer experiences, acquiring higher-return-on-investment customers and expanding value across the platform.
As part of that strategy, BILL trained its full sales organization to sell the company’s products as a single platform rather than as individual components. The number of customers using both its accounts payable/accounts receivable and Spend & Expense offerings grew 35% year over year in the fourth quarter. Customers using both products in the current and prior-year fourth quarters had net revenue retention of 111%.
BILL also said it is shifting its embedded-finance partner strategy toward its standardized Embed 2.0 platform and away from custom-built bank channel solutions. Lacerte said the company does not expect every existing bank-channel relationship to continue under the new approach.
The company said one embedded partner more than tripled both transaction payment volume and units sequentially from the third quarter to the fourth quarter.
Fourth-quarter results and capital allocation Chief Financial Officer Rohini Jain reported fourth-quarter core revenue of $400.5 million, up 16% from a year earlier. Non-GAAP operating margin was 23%, up 370 basis points sequentially and 860 basis points year over year. Non-GAAP net income was $94 million, rising 22% sequentially and 53% year over year.
Jain said the profitability outperformance reflected earlier-than-planned workforce-reduction timing as well as lower fraud and credit losses. The restructuring generated close to the previously projected $110 million in gross savings, she said, with BILL planning to reinvest approximately $30 million, implying about $80 million in net benefit.
AP/AR core revenue grew 10% year over year, while transaction revenue rose 10% to $131 million. Spend & Expense revenue increased 23% to $185 million, and card payment volume rose 20%. AP/AR total payment volume exceeded expectations by roughly 300 basis points, driven largely by larger customers and ACH volume. Same-store-sales TPV grew 6% year over year, the highest rate since the first quarter of fiscal 2023. During the quarter, BILL repurchased about $300 million of stock at an average price of $35.31 per share. Since its third-quarter earnings call, the company has retired about 15 million shares, representing nearly 14% of common shares outstanding. It had $400 million remaining under its $1 billion authorization as of the call.
Fiscal 2027 outlook and accounting change For the first quarter of fiscal 2027, BILL forecast total revenue of $432.5 million to $442.5 million and core revenue of $398 million to $408 million, representing 11% to 14% year-over-year core revenue growth. It expects non-GAAP operating income of $112.5 million to $117.5 million and non-GAAP earnings per share of $0.96 to $1.00.
For the full fiscal year, the company expects total revenue of $1.807 billion to $1.857 billion and core revenue of $1.669 billion to $1.719 billion. The core revenue forecast represents growth of 11% to 14% from the prior year. BILL expects non-GAAP operating income of $421 million to $451 million, or a 23% to 24% margin, and non-GAAP EPS of $3.56 to $3.79.
Jain said the company expects more than $125 million of GAAP profit in fiscal 2027. BILL also plans to begin reporting revenue net of rewards expense beginning in the first quarter, with rewards expense shifting from sales and marketing to a reduction of subscription and transaction fees. Jain said the presentation change will not affect operating income or net income.
The company said it expects to exceed its internally defined Rule of 40 threshold by the end of fiscal 2027, measuring growth in total revenue less rewards combined with non-GAAP operating margin.
About BILL (NYSE:BILL)BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management 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, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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BILL Holdings (BILL - Free Report) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +21.74%. A quarter ago, it was expected that this payment processing software company would post earnings of $0.55 per share when it actually produced earnings of $0.68, delivering a surprise of +23.64%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
BILL Holdings, which belongs to the Zacks Internet - Software industry, posted revenues of $436.19 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.51%. This compares to year-ago revenues of $383.35 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
BILL Holdings shares have lost about 9.9% since the beginning of the year versus the S&P 500's gain of 12.4%.
What's Next for BILL Holdings?While BILL Holdings has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for BILL Holdings was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.72 on $442.07 million in revenues for the coming quarter and $3.31 on $1.85 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Zoom Communications (ZM - Free Report) , has yet to report results for the quarter ended July 2026. The results are expected to be released on August 25.
This video-conferencing company is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of -2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Zoom Communications' revenues are expected to be $1.27 billion, up 4.2% from the year-ago quarter.
BILL Holdings (BILL - Free Report) reported $436.19 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 13.8%. EPS of $0.84 for the same period compares to $0.53 a year ago.
The reported revenue represents a surprise of +1.51% over the Zacks Consensus Estimate of $429.71 million. With the consensus EPS estimate being $0.69, the EPS surprise was +21.74%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how BILL Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Businesses Using Solutions - BILL AP/AR Customers: 183,300 versus the three-analyst average estimate of 185,163.Businesses Using Solutions - BILL Spend & Expense Spending Businesses: 46,500 versus the three-analyst average estimate of 47,208.Businesses Using Solutions - Embedded Solutions & Other Customers: 249,500 compared to the 265,033 average estimate based on three analysts.Businesses Using Solutions - Total: 479,300 versus 497,405 estimated by three analysts on average.Revenue- Subscription and transaction fees: $400.48 million compared to the $396.01 million average estimate based on five analysts. The reported number represents a change of +15.8% year over year.Revenue- Interest on funds held for customers: $35.7 million versus the five-analyst average estimate of $34.36 million. The reported number represents a year-over-year change of -4.5%.Revenue- Subscription and transaction fees- Subscription fees: $76.2 million versus $76.11 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +10.7% change.Revenue- Subscription and transaction fees- Transaction fees: $324.3 million compared to the $319.41 million average estimate based on four analysts. The reported number represents a change of +17% year over year.Revenue- Subscription fees- BILL AP/AR: $61.4 million versus the three-analyst average estimate of $62.06 million.Revenue- Subscription fees- Embedded and Other Solutions: $14.8 million compared to the $13.63 million average estimate based on three analysts.Revenue- Transaction fees- BILL AP/AR: $131.1 million compared to the $132.9 million average estimate based on three analysts.Revenue- Subscription and transaction fees- Embedded and Other Solutions: $23.5 million versus the three-analyst average estimate of $21.13 million.View all Key Company Metrics for BILL Holdings here>>>
Shares of BILL Holdings have returned +11.1% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move, and maximize their money, today announced financial results for the fourth quarter and fiscal year ended June 30, 2026. “Our results for the year demonstrate the durability of our business. We continue to see strong demand for BILL's integrated platform, with increasing adoption of our AI capabilities,” said René Lacerte, BILL CEO and Founder. “The.
Wall Street analysts expect BILL Holdings (BILL - Free Report) to post quarterly earnings of $0.69 per share in its upcoming report, which indicates a year-over-year increase of 30.2%. Revenues are expected to be $429.71 million, up 12.1% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
In light of this perspective, let's dive into the average estimates of certain BILL Holdings metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus estimate for 'Revenue- Interest on funds held for customers' stands at $34.36 million. The estimate points to a change of -8.1% from the year-ago quarter.
Analysts expect 'Revenue- Subscription and transaction fees' to come in at $396.01 million. The estimate indicates a change of +14.5% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenue- Subscription and transaction fees- Subscription fees' should arrive at $76.11 million. The estimate indicates a change of +10.6% from the prior-year quarter.
The combined assessment of analysts suggests that 'Revenue- Subscription and transaction fees- Transaction fees' will likely reach $319.41 million. The estimate suggests a change of +15.3% year over year.
View all Key Company Metrics for BILL Holdings here>>>
BILL Holdings shares have witnessed a change of +14.9% in the past month, in contrast to the Zacks S&P 500 composite's +3.8% move. With a Zacks Rank #4 (Sell), BILL is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Arrowstreet Capital Limited Partnership increased its position in shares of BILL Holdings, Inc. (NYSE:BILL – Free Report) by 743.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 264,036 shares of the company’s stock after acquiring an additional 232,731 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.27% of BILL worth $10,113,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of BILL during the 4th quarter worth $28,000. Caitong International Asset Management Co. Ltd increased its position in shares of BILL by 972.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 536 shares of the company’s stock valued at $28,000 after purchasing an additional 486 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of BILL by 173.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 712 shares of the company’s stock valued at $39,000 after purchasing an additional 452 shares during the last quarter. CWM LLC raised its holdings in shares of BILL by 1,000.0% during the 4th quarter. CWM LLC now owns 803 shares of the company’s stock valued at $44,000 after buying an additional 730 shares in the last quarter. Finally, State of Wyoming bought a new stake in BILL in the 1st quarter worth approximately $32,000. 97.99% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets BILL has been the subject of several analyst reports. Wall Street Zen lowered shares of BILL from a “buy” rating to a “hold” rating in a research report on Monday, July 13th. Truist Financial raised their price target on BILL from $38.00 to $44.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Robert W. Baird boosted their price objective on BILL from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. The Goldman Sachs Group upped their price target on shares of BILL from $44.00 to $50.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, BMO Capital Markets increased their price objective on BILL from $43.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, May 8th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.95.
Check Out Our Latest Report on BILL
BILL Price Performance Shares of NYSE BILL opened at $45.23 on Friday. The company has a 50 day simple moving average of $38.36 and a two-hundred day simple moving average of $40.51. BILL Holdings, Inc. has a fifty-two week low of $31.41 and a fifty-two week high of $57.21. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of -4,518.68, a P/E/G ratio of 1.02 and a beta of 1.17. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 1.66.
BILL (NYSE:BILL – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.13. The firm had revenue of $406.56 million for the quarter, compared to analysts’ expectations of $403.76 million. BILL had a return on equity of 2.40% and a net margin of 0.01%.The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. BILL has set its FY 2026 guidance at 2.610-2.640 EPS and its Q4 2026 guidance at 0.690-0.720 EPS. Analysts expect that BILL Holdings, Inc. will post 0.95 EPS for the current fiscal year.
About BILL (Free Report)
BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management 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, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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Dimensional Fund Advisors LP boosted its position in BILL Holdings, Inc. (NYSE:BILL – Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,090,741 shares of the company’s stock after purchasing an additional 126,427 shares during the quarter. Dimensional Fund Advisors LP owned about 3.12% of BILL worth $118,366,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BILL. ER Collective Holdings LLC acquired a new stake in BILL during the 4th quarter worth $464,588,000. Contour Asset Management LLC raised its position in shares of BILL by 45.5% in the fourth quarter. Contour Asset Management LLC now owns 4,710,570 shares of the company’s stock valued at $256,914,000 after buying an additional 1,472,132 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of BILL by 36.5% in the fourth quarter. Marshall Wace LLP now owns 2,958,096 shares of the company’s stock worth $161,335,000 after buying an additional 791,197 shares in the last quarter. Senvest Management LLC boosted its position in BILL by 155.8% during the fourth quarter. Senvest Management LLC now owns 2,573,261 shares of the company’s stock worth $140,346,000 after acquiring an additional 1,567,186 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in BILL by 14.2% during the third quarter. Ameriprise Financial Inc. now owns 2,546,171 shares of the company’s stock worth $134,871,000 after acquiring an additional 317,014 shares during the last quarter. Hedge funds and other institutional investors own 97.99% of the company’s stock.
Analyst Upgrades and Downgrades BILL has been the subject of a number of recent research reports. Oppenheimer set a $55.00 price objective on shares of BILL and gave the company an “outperform” rating in a report on Friday, May 8th. Truist Financial boosted their target price on BILL from $38.00 to $44.00 and gave the stock a “hold” rating in a report on Friday, July 24th. Morgan Stanley set a $55.00 price target on BILL in a research report on Friday, May 8th. Wall Street Zen cut BILL from a “buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Zacks Research downgraded BILL from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BILL has an average rating of “Hold” and an average price target of $55.95.
View Our Latest Research Report on BILL
BILL Price Performance BILL stock opened at $46.38 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $37.82 and a 200 day moving average price of $40.60. BILL Holdings, Inc. has a 12-month low of $31.41 and a 12-month high of $57.21. The stock has a market cap of $4.62 billion, a P/E ratio of -4,633.57, a PEG ratio of 1.01 and a beta of 1.17.
BILL (NYSE:BILL – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.13. BILL had a net margin of 0.01% and a return on equity of 2.40%. The company had revenue of $406.56 million for the quarter, compared to analyst estimates of $403.76 million. During the same period in the previous year, the business posted $0.50 EPS. BILL’s revenue was up 13.5% on a year-over-year basis. BILL has set its FY 2026 guidance at 2.610-2.640 EPS and its Q4 2026 guidance at 0.690-0.720 EPS. Sell-side analysts anticipate that BILL Holdings, Inc. will post 0.95 earnings per share for the current year.
BILL Company Profile (Free Report)
BILL Holdings, Inc provides financial automation software for small and midsize businesses worldwide. The company provides software-as-a-service, cloud-based payments, and spend management 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, eliminate expense reports, manage cash flows, and improve office efficiency. It also offers onboarding implementation support, and ongoing support and training services.
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Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
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How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
#1 (Strong Buy) stocks have produced an unmatched +23.94% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: BILL Holdings (BILL - Free Report) BILL Holdings, Inc. primarily serves small and midsize businesses through its AI-powered financial operations platform that connects customers with their suppliers and clients.
BILL is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Computer and Technology stock. BILL has a Momentum Style Score of A, and shares are up 25.2% over the past four weeks.
Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.05 to $2.64 per share. BILL also boasts an average earnings surprise of +21.7%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, BILL should be on investors' short list.
SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move and maximize their money, announced today it will report financial results for its fiscal fourth quarter and fiscal year ended June 30, 2026 on Wednesday, August 19, 2026 after the close of market. Management will conduct a conference call to discuss these results at 1:30 p.m. PT.The news release with financial results and a live webcast of the call.
Investors interested in stocks from the Internet - Software sector have probably already heard of BILL Holdings (BILL - Free Report) and Braze, Inc. (BRZE - Free Report) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.
Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Right now, BILL Holdings is sporting a Zacks Rank of #1 (Strong Buy), while Braze, Inc. has a Zacks Rank of #3 (Hold). The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that BILL has an improving earnings outlook. But this is just one piece of the puzzle for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.
BILL currently has a forward P/E ratio of 11.86, while BRZE has a forward P/E of 37.70. We also note that BILL has a PEG ratio of 0.40. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. BRZE currently has a PEG ratio of 1.26.
Another notable valuation metric for BILL is its P/B ratio of 1.02. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, BRZE has a P/B of 4.61.
These are just a few of the metrics contributing to BILL's Value grade of B and BRZE's Value grade of F.
BILL stands above BRZE thanks to its solid earnings outlook, and based on these valuation figures, we also feel that BILL is the superior value option right now.
BILL Holdings (BILL - Free Report) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this payment processing software company, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- has this insight at its core.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For BILL Holdings, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsThe company is expected to earn $0.69 per share for the current quarter, which represents a year-over-year change of +30.2%.
Over the last 30 days, the Zacks Consensus Estimate for BILL Holdings has increased 15.7% because one estimate has moved higher compared to no negative revisions.
Current-Year Estimate RevisionsFor the full year, the earnings estimate of $2.64 per share represents a change of +19.5% from the year-ago number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for BILL Holdings. Over the past month, two estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 8.58%.
Favorable Zacks RankThanks to promising estimate revisions, BILL Holdings currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineBILL Holdings shares have added 10.2% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
Shares of BILL Holdings (BILL - Free Report) have gained 10.2% over the past four weeks to close the last trading session at $38.78, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $52.78 indicates a potential upside of 36.1%.
The mean estimate comprises 23 short-term price targets with a standard deviation of $10.85. While the lowest estimate of $37.00 indicates a 4.6% decline from the current price level, the most optimistic analyst expects the stock to surge 98.6% to reach $77.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
However, an impressive consensus price target is not the only factor that indicates a potential upside in BILL. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why BILL Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 8.6% over the past month, as two estimates have gone higher compared to no negative revision.
Moreover, BILL currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much BILL could gain, the direction of price movement it implies does appear to be a good guide.
SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the intelligent financial operations platform trusted by nearly half a million businesses to manage, move, and maximize their money, today announced Jonathan Leaf will join BILL as Chief Revenue Officer on July 6th. In this newly expanded role, Leaf will lead BILL's global revenue organization, spanning sales, marketing, embedded partnerships, and customer experience. Leaf will join the executive leadership team, and report directly to CEO an.
Western Digital (NASDAQ:WDC) Price Target Raised to $650.00JPMorgan Chase & Co. increased their target price on shares of Western Digital from $530.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday.
NASDAQ:WDC
Read Western Digital (NASDAQ:WDC) Price Target Raised to $650.00
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SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move and maximize their money, announced today its participation in the J.P. Morgan Global Technology, Media and Communications Conference in Boston on Tuesday, May 19, 2026 at 11:15 a.m. PDT.
A live webcast of the event will be accessible at https://investor.bill.com. Webcast replays can be accessed from BILL’s Investor Relations website for approximately thirty days. Please note the presentation time is subject to change.
About BILL
BILL (NYSE: BILL) is the intelligent finance platform trusted by nearly half a million businesses and their accountants to manage, move, and maximize their money. BILL powers businesses ranging from fast-moving startups to growing companies with complex operations. We use AI to deliver strategic finance capabilities in one integrated platform that includes AP, AR, expenses, forecasting, procurement and more. With a member network of more than 8 million, BILL’s platform processes ~1% of US GDP annually. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and software providers. For more information, visit bill.com.
BILL Holdings (BILL - Free Report) closed the last trading session at $41.23, gaining 11.4% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $54.76 indicates a 32.8% upside potential.
The mean estimate comprises 21 short-term price targets with a standard deviation of $11.55. While the lowest estimate of $42.00 indicates a 1.9% increase from the current price level, the most optimistic analyst expects the stock to surge 103.7% to reach $84.00. It's very important to note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That's because the ability and unbiasedness of analysts in setting price targets have long been questionable.
However, an impressive consensus price target is not the only factor that indicates a potential upside in BILL. This view is strengthened by the agreement among analysts that the company will report better earnings than what they estimated earlier. Though a positive trend in earnings estimate revisions doesn't give any idea as to how much the stock could surge, it has proven effective in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You Should Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Why BILL Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Over the last 30 days, the Zacks Consensus Estimate for the current year has increased 4.8%, as one estimate has moved higher compared to no negative revision.
Moreover, BILL currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much BILL could gain, the direction of price movement it implies does appear to be a good guide.
What happenedAccording to an SEC filing dated May 15, 2026, Totem Point Management, LLC, fully exited its position in Bill.com (BILL +2.74%) by selling 155,100 shares during the first quarter. The estimated transaction value was $6.94 million, based on the average closing price for the quarter. The quarter-end position value decreased by $8.46 million, reflecting both the sale and share price movement.
What else to knowTotem Point Management, LLC, now holds no Bill.com shares, and the position represents 0% of 13F reportable AUM.Top holdings after the filing:NASDAQ:NVDA: $13.37 million (17.1% of AUM)NASDAQ:AMD: $8.59 million (11.0% of AUM)NASDAQ:ON: $8.40 million (10.7% of AUM)NYSE:TSM: $7.33 million (9.3% of AUM)NYSE:SPOT: $6.10 million (7.8% of AUM)As of May 14, 2026, shares of Bill.com were priced at $39.49, down 17.8% over the past year and underperforming the S&P 500 by 45.1 percentage points.The fund reported $78.37 million in 13F AUM across 17 positions at quarter-end.Company overviewMetricValueRevenue (TTM)$1.60 billionNet income (TTM)$162,000Price (as of May 15, 2026)$40.07One-year price change(13.4%)Company snapshotProvides cloud-based software for automating back-office financial operations, including accounts payable, accounts receivable, spend management, and payments.Operates a software-as-a-service (SaaS) business model, generating recurring revenue through subscription fees and transaction-based charges.Serves small and midsize businesses, accounting firms, financial institutions, and software companies globally.Bill.com is a technology company specializing in financial process automation for small and midsize enterprises. Its SaaS platform streamlines financial workflows and delivers scalable, recurring revenue from a broad base of business clients.
What this transaction means for investorsIn the first quarter, Totem Point fully closed five positions, leaving it with just 17 stocks in its portfolio by the end of March.
On May 7, Bill reported results from its fiscal third quarter that ended March 31, 2026. On the surface, there aren’t any obvious reasons to sell the stock. Total revenue rose 13% year over year to $406.6 million.
As a financial operations platform that small-to-medium-sized businesses use to manage their finances, Bill is beginning to recognize significant amounts of interest on funds held for customers. Float revenue reached $35.4 million in its fiscal third quarter.
A larger customer base, coupled with a lean employee roster, helped Bill’s bottom line rise to $12.8 million in its fiscal third quarter. That’s a significant improvement from the $11.6 million loss the company reported in the previous year period.
With its bottom line in positive territory, Bill is confidently returning cash to shareholders with a $1 billion share repurchase authorization from its Board of Directors.
Cory Renauer has positions in Spotify Technology. The Motley Fool has positions in and recommends Advanced Micro Devices, Bill Holdings, Nvidia, Spotify Technology, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends ON Semiconductor. The Motley Fool has a disclosure policy.
13D Management sold out its entire position in Bill.com (BILL +2.74%) during the first quarter, according to a May 15, 2026, SEC filing. The estimated transaction value was $4.03 million, based on quarterly average pricing.
What happenedAccording to an SEC filing dated May 15, 2026, 13D Management liquidated its entire 90,000-share stake in Bill.com during the first quarter. The transaction’s estimated value was $4.03 million, calculated using the average unadjusted closing price for the quarter. The position’s quarter-end value decreased by $4.91 million, a figure that includes both trade and market price effects.
What else to knowTop holdings after the filing:NYSE:TWLO: $7.64 million (11.9% of AUM)NASDAQ:VSAT: $7.55 million (11.7% of AUM)NASDAQ:ACHC: $6.88 million (10.7% of AUM)NYSE:PSO: $6.02 million (9.3% of AUM)NYSE:ALV: $5.87 million (9.1% of AUM)As of May 14, 2026, BILL shares were priced at $39.49, down 17% over the past year and underperforming the S&P 500, which is instead up about 25%.Company OverviewMetricValueRevenue (TTM)$1.60 billionNet Income (TTM)$163,000Price (as of market close 2026-05-14)$39.49One-Year Price Change(17%)Company SnapshotBILL provides cloud-based software solutions for automating back-office financial operations, including accounts payable, accounts receivable, and spend management for small and midsize businesses.The firm operates a software-as-a-service (SaaS) business model.It serves accounting firms, financial institutions, software companies, and a broad base of small and midsize enterprises seeking to digitize financial workflows.Bill.com provides cloud-based financial automation software, facilitating digital payment processes for businesses. The company leverages a SaaS model to deliver scalable solutions that streamline accounts payable and receivable operations. Its platform enables clients to improve cash flow management and operational efficiency.
What this transaction means for investorsThis sale ultimately looks less like a collapse in confidence and more like a portfolio reset away from slower-growth fintech names that have struggled to regain their market premium. BILL still has a massive footprint in small-business finance automation, but investors appear increasingly focused on whether growth can reaccelerate enough to justify higher valuations, especially in software names right now.
Still, BILL’s underlying business remains solid. Third-quarter fiscal-year revenue, as reported earlier this month, climbed 13% year over year to $406.6 million, while core revenue, which excludes float income, rose 16% to $371.1 million. The company also swung to a quarterly profit of $12.8 million from a loss of $11.6 million a year earlier and expanded non-GAAP operating income by 50%.
Management is also leaning aggressively into shareholder returns, authorizing a new $1 billion stock repurchase program after buying back roughly 1 million shares during the quarter. Meanwhile, BILL processed $89 billion in payment volume and served nearly 494,000 businesses in the quarter. In other words, the business has been badly punished, but it’s still operating solidly, and long-term investors should keep that in mind.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bill Holdings and Twilio. The Motley Fool recommends Pearson Plc. The Motley Fool has a disclosure policy.
BILL Holdings faces headwinds from declining interest rates, SMB exposure, and SaaS sector pressures, leading to a ~20% YTD decline. Despite negative sentiment, BILL's valuation has become attractive, presenting compelling entry points for investors seeking turnaround potential. Workforce reductions and AI-driven efficiency, trends seen in larger peers, are also underway at smaller firms like BILL.
Key Takeaways BILL offers SMBs one platform for invoices, approvals, payments, expenses and cash flow.BILL grew Q3 FY26 revenues 13% to $406.6M; payment volume hit $89B on 34M transactions.BILL held nearly $1B cash, $1.18B short-term investments and okayed a $1B share buyback. BILL Holdings (BILL - Free Report) is still building a stronger case for investors who want exposure to small-business financial software. The company is not just selling basic payment tools. It is creating a broader financial operations platform that helps small and midsize businesses manage invoices, approvals, payments, expenses and cash flow in one place. While risks remain, especially because SMB demand can weaken in a slow economy, BILL’s latest numbers and strategy point to several reasons for optimism.
Earlier this month, BILL Holdings posted third-quarter fiscal 2026 non-GAAP net income of 68 cents per share, beating the Zacks Consensus Estimate of 55 cents by 23.6%. The figure increased 36% from the year-ago quarter.
Quarterly revenues of $406.6 million topped the consensus mark of $403.1 million by 0.9% and rose 13.5% year over year. The quarter reflected continued expansion across BILL’s financial operations platform, highlighted by total payment volume of $89 billion, up 12% from the prior-year period.
Image Source: Zacks Investment Research
BILL shares have declined 13.1% over the past three months against the industry’s growth of 4.2%. However, its EPS estimate revisions call for a bullish outlook and suggests adding the stock now. BILL currently sports a Zacks Rank #1 (Strong Buy).
Image Source: Zacks Investment Research
Factors That Make BILL Holdings Stock a Solid PickRevenue Growth Remains Healthy: BILL continues to grow at a steady pace. In third-quarter fiscal 2026, total revenues rose 13% year over year to $406.6 million, while core revenues increased 16% to $371.1 million. The company also processed $89 billion in total payment volume, up 12%, and handled 34 million transactions, up 14%. Management’s fiscal 2026 outlook calls for total revenues of $1.642-$1.652 billion, suggesting the growth story is still intact.
Product Portfolio Keeps Getting Bigger: The company has used acquisitions to expand beyond accounts payable and receivable. Divvy added spend and expense management, Finmark brought financial planning and analysis tools, and Invoice2go strengthened receivables capabilities. This wider product set gives BILL more ways to serve the same customer, which can support higher retention and more cross-selling over time.
AI Could Make the Platform More Valuable: BILL is leaning heavily on AI-led automation. Its agents help with invoice coding, supplier management and payment execution, and more than 100,000 customers have used these tools. The company has also launched BILL Travel, which it says can sharply reduce time spent on travel workflows. For busy SMBs, saving time is a real selling point.
Partners Help Expand Its Reach: BILL works with more than 9,500 accounting firms and has relationships with major financial institutions. These partnerships help the company reach more businesses without relying only on direct sales. Its network of roughly 8.3 million suppliers and clients also makes the platform more useful as adoption grows.
Balance Sheet Adds Flexibility: BILL ended March 31, 2026, with nearly $1 billion in cash and cash equivalents, plus $1.18 billion in short-term investments. It also generated $84.7 million in free cash flow during the quarter. The new $1 billion share repurchase authorization gives management another way to create shareholder value while still investing in growth.
Other Stocks to ConsiderSome other top-ranked stocks from the sector are Paycom Software, Inc. (PAYC - Free Report) and Flywire Corporation (FLYW - Free Report) . While Paycom Software sports a Zacks Rank #1, Flywire has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Paycom Software’s 2026 EPS has been revised 2.5% over the past month and calls for a 15% increase year over year.
The consensus estimate for Flywire’s full-year 2026 EPS has been revised two cents upward in the past 7 days to 42 cents, which implies a significant increase from the year-ago period.
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On May 15, 2026, Light Street Capital Management disclosed a sale of 253,000 shares of BILL Holdings (BILL +2.74%), estimated at $11.32 million based on quarterly average pricing.
What happenedAccording to the SEC filing dated May 15, 2026, Light Street Capital Management reduced its position in BILL Holdings by 253,000 shares in the first quarter. The estimated transaction value was $11.32 million, based on the average closing price over the quarter. The value of the BILL stake fell by $23.95 million from the previous quarter, a figure that reflects both share sales and changes in market price.
What else to knowThe fund executed a sell, leaving BILL at 4.48% of reportable 13F AUM after the quarter’s tradesTop holdings after the filing:NYSE: TSM: $76,912,351 (15.47% of AUM)NASDAQ: NVDA: $47,474,122 (9.55% of AUM)NASDAQ: AVGO: $46,364,598 (9.32% of AUM)NASDAQ: AMD: $44,602,231 (8.97% of AUM)NASDAQ: CHYM: $38,913,729 (7.82% of AUM)As of Friday, BILL shares were priced at $36.14, down 18% over the past year and well underperforming the S&P 500, which is up about 28%.Company overviewMetricValueRevenue (TTM)$1.60 billionNet income (TTM)$163,000Price (as of market close May 14, 2026)$39.49One-year price change(18%)Company snapshotBILL offers cloud-based software for automating back-office financial operations, including accounts payable, accounts receivable, and spend management solutions.The firm generates revenue through a software-as-a-service (SaaS) model, transaction-based fees, and value-added services such as onboarding and ongoing support.It targets small and midsize businesses, accounting firms, financial institutions, and software companies as primary customers.BILL leverages a SaaS business model to deliver scalable, recurring revenue while streamlining financial processes for its clients.
What this transaction means for investorsBILL stock has struggled over the past year as investors recalibrated expectations for fintech growth, but the underlying operating trends remain considerably stronger than the share price performance suggests.
In its latest quarter, BILL reported revenue of $406.6 million, up 13% year over year, while core revenue, which excludes interest income on customer funds, grew 16% to $371.1 million. The company also swung back to profitability, generating $12.8 million in net income compared with a loss a year earlier. Meanwhile, payment volume reached $89 billion, and transactions processed climbed 14% to 34 million.
Management sounded notably confident. Founder and CEO René Lacerte said BILL's platform continues to create significant value for customers and highlighted AI as an "extraordinary opportunity" to solve more customer pain points. The company also authorized a new $1 billion share repurchase program, a sign that leadership believes the stock offers attractive long-term value.
For long-term investors, the key question is whether BILL can keep translating growing payment volume and customer engagement into sustained earnings growth. If it can, today's valuation may ultimately look more like an opportunity than a warning sign.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Bill Holdings, Broadcom, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.
SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the intelligent financial operations platform trusted by nearly half a million businesses to manage, move, and maximize their money, today announced executive leadership appointments and organizational updates to position the company for its next phase of market leadership. The changes will take effect in the fourth quarter of fiscal 2026. “BILL is at a pivotal moment in our journey. As we continue our transformation into an AI native compan.
Three weeks after announcing mass job cuts, BILL is instituting an overhaul of its leadership team.
The financial operations platform said Tuesday (May 26) that it was making several changes to its executive team as it increases its focus on artificial intelligence.
“BILL is at a pivotal moment in our journey,” said René Lacerte, founder and CEO of BILL.
“As we continue our transformation into an AI native company serving nearly 500,000 businesses, we’re evolving our leadership team and organizational structure to align with our highest priorities and position BILL for the future.
“The changes will strengthen our operational focus, accelerate innovation, deepen customer value, and reinforce BILL as the trusted platform our customers rely on to run and grow their businesses,” Lacerte added.
Those changes include promoting Michael Cieri, currently BILL’s general manager of software solutions, to chief product officer, overseeing product management, product marketing, design, research and product strategy.
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Sarah Acton, the company’s chief customer officer (CCO), is leaving after nearly five years on the leadership team. Rather than name a new CCO, BILL says it plans to announce a new chief revenue officer in the coming weeks.
Also leaving is Chief Technology Officer Ken Moss, who will be replaced by Erin Chan, a distinguished engineering fellow at BILL and its founding engineer.
“Chan will lead BILL’s AI platform strategy and execution as we scale through this next phase and expand the company’s AI capabilities,” the release said.
President and Chief Operating Officer John Rettig, who has been with BILL for more than a decade, will move into the newly created position of Chief Strategy and Transformation Officer.
Lastly, Mary Kay Bowman, general manager of payments and financial services, will depart the company after nearly three years, but continue as an advisor.
The announcement comes on the heels of BILL’s decision earlier this month to reduce its workforce by 30% as it accelerates the use of AI in its own operations and its financial operations platform for businesses and accounting firms.
Speaking during an earnings call, Lacerte noted that he had on early calls referred to AI as one of BILL’s three main priorities.
“The tangible proof points we have seen rapidly deploying new agents to create more value for customers and driving greater productivity for employees have made it clear that this is no longer one priority among three. It is our No. 1 priority,” Lacerte said.
See More In: AI, AI layoffs, artificial intelligence, B2B, B2B Payments, bill, financial operations, News, personnel, PYMNTS News, What's Hot, What's Hot In B2B
SAN JOSE, Calif.--(BUSINESS WIRE)--BILL (NYSE: BILL), the financial operations platform trusted by nearly half a million businesses to manage, move and maximize their money, announced today its participation in the BofA Securities Global Technology Conference in San Francisco on Wednesday, June 3, 2026 at 8:40 a.m. PDT.
A live webcast of the event will be accessible at https://investor.bill.com. Webcast replays can be accessed from BILL’s Investor Relations website for approximately thirty days. Please note the presentation time is subject to change.
About BILL
BILL (NYSE: BILL) is the intelligent finance platform trusted by nearly half a million businesses and their accountants to manage, move, and maximize their money. BILL powers businesses ranging from fast-moving startups to growing companies with complex operations. We use AI to deliver strategic finance capabilities in one integrated platform that includes AP, AR, expenses, forecasting, procurement and more. With a member network of more than 8 million, BILL’s platform processes ~1% of US GDP annually. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and software providers. For more information, visit bill.com.
Investors looking for stocks in the Internet - Software sector might want to consider either BILL Holdings (BILL) or Palantir Technologies Inc. (PLTR). But which of these two stocks presents investors with the better value opportunity right now?
BILL Holdings is a category-leading SMB financial operations SaaS platform, trading at 1.9x FY2028e core revenue and 8.1x adjusted FCF multiple. Despite a 16% stock decline since May 2025, BILL continues to outperform guidance, expand margins, and accelerate AI-native transformation. A $1B share repurchase (25%+ of market cap) and raised FY26 operating income guidance underscore management's confidence in long-term growth and FCF generation.
New York, New York--(Newsfile Corp. - June 2, 2026) - Precoro, a procurement centralization and automation platform that delivers enterprise-level capabilities to mid-market organizations, today announced an API integration with BILL (NYSE: BILL), the intelligent finance platform trusted by nearly half a million businesses to manage, move, and maximize their money. Through this integration, mid-market finance and procurement teams can now connect purchasing workflows directly to payment execution, helping them reduce manual work, eliminate financial blind spots, and automate the full procure-to-pay cycle.
Precoro
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"We're focused on giving mid-market companies enterprise-level control without the complexity of traditional ERP systems," said Andrew Zhyvolovych, CEO of Precoro. "Integrating with BILL allows us to connect procurement and payments into one continuous workflow, giving teams real-time visibility and enabling them to scale efficiently while maintaining full control over every transaction."
As companies grow, procurement, approvals, invoicing, and payments are often managed across separate systems, creating gaps between purchasing decisions and financial execution. This disconnect forces finance teams to rely on manual reconciliation, work with delayed or incomplete data, and apply controls inconsistently—leading to errors, late payments, and limited visibility into actual cash flow and liabilities.
The BILL API integration addresses this challenge by connecting Precoro's spend governance to BILL throughout the entire procurement process. Organizations that have established procurement policies and approval workflows in Precoro can now ensure that only validated, pre-approved spend flows into BILL for payment, and receive real-time payment status updates in Precoro through the integration. This creates a seamless P2P workflow where every transaction is validated before payment and fully traceable after, giving teams complete visibility and confidence in every dollar spent.
"At BILL, innovation is driven by the real-world needs of the nearly half a million businesses we serve," said Mike Cieri, Chief Product Officer at BILL. "As businesses grow, their financial systems must scale with them. We design our technology to connect seamlessly with the tools finance teams rely on every day. By integrating with Precoro through our API, we're helping customers unify critical workflows so they can operate more efficiently and scale with confidence."
Highlights of the BILL integration:
Through the integration with BILL, customers can:
Enforce proactive spend governance across all entities: Ensure every purchase aligns with budgets and company policies before any commitment is made, effectively eliminating overspend and maverick buying.Accelerate purchasing and invoice processing with AI-powered precision: Replace manual data entry with AI for intake, receipts, and invoices, paired with automated three-way matching, ensuring that only validated, pre-approved data flows into BILL for seamless payment execution.Eliminate financial blind spots with real-time synchronization: Gain a unified view of spend through a robust two-way sync that updates payment statuses instantly across both platforms, giving teams total clarity on cash flow and upcoming financial commitments.Scale complex operations through connected workflows: Support multiple subsidiaries and high transaction volumes by streamlining P2P workflows, allowing growing teams to manage more spend without increasing administrative headcount.The Precoro and BILL integration is available today.
About Precoro
Precoro is an AI-powered procurement centralization and automation platform that enables businesses to centralize procurement across multiple subsidiaries, improving visibility and control over spend and reducing risks from fragmented processes.
To learn more, visit: https://precoro.com/.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299366
Source: PRNews OU
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Shares of BILL Holdings (BILL - Free Report) have gained 0.4% over the past four weeks to close the last trading session at $38.47, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $54.81 indicates a potential upside of 42.5%.
The average comprises 21 short-term price targets ranging from a low of $42.00 to a high of $77.00, with a standard deviation of $10.11. While the lowest estimate indicates an increase of 9.2% from the current price level, the most optimistic estimate points to a 100.2% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.
While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.
But, for BILL, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.
Price, Consensus and EPS Surprise
Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.
While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?
They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.
However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.
Here's Why There Could be Plenty of Upside Left in BILLThere has been increasing optimism among analysts lately about the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher. And that could be a legitimate reason to expect an upside in the stock. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The Zacks Consensus Estimate for the current year has increased 50.3% over the past month, as five estimates have gone higher compared to no negative revision.
Moreover, BILL currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Therefore, while the consensus price target may not be a reliable indicator of how much BILL could gain, the direction of price movement it implies does appear to be a good guide.
