Why Bill.com Shares Are Surging Higher Today

Bill.com Holdings Inc BILL is trading significantly higher Friday after the company reported better-than-expected fourth-quarter fiscal 2021 revenue results and issued guidance above estimates.

Bill.com reported a quarterly adjusted earnings loss of 7 cents per share, which came in below the estimate for a loss of 4 cents per share. The company reported quarterly revenue of $78.3 million, which beat the estimate of $62.14 million. 

Bill.com expects first-quarter fiscal 2022 revenue to be in a range of $103.2 million to $104.2 million versus the estimate of $67.81 million.

"We delivered record growth in fiscal 2021 as we helped SMBs across the country automate their financial operations and make billions of dollars in payments,” said René Lacerte, founder and CEO of Bill.com. “Our strategic initiatives drove strong adoption of our platform and set us up well for future opportunities."

Analyst Assessment: Multiple analyst firms raised their price targets on the stock following its financial results:

• Keybanc analyst Josh Beck maintained Bill.com with an Overweight rating and raised the price target from $175 to $275.
• Piper Sandler analyst Brent Bracelin maintained Bill.com with an Overweight rating and raised the price target from $180 to $280.
• Oppenheimer analyst Brian Schwartz maintained Bill.com with an Outperform rating and raised the price target from $175 to $270.
• Needham analyst Scott Berg maintained Bill.com with a Buy rating and raised the price target from $215 to $280.
• Canaccord Genuity analyst Joseph Vafi maintained Bill.com with a Buy rating and raised the price target from $223 to $284.
• B of A Securities analyst Brad Sills maintained Bill.com with a Buy rating and raised the price target from $185 to $320.

BILL Price Action: Bill.com is surging to new 52-week highs in trading today.

At last check Friday, the stock was up 20.90% at $264.85.

Photo: courtesy of Bill.com.