The stock of Bill.com Holdings, Inc. (NYSE:BILL) is now priced at $98.98 and the shares are -1.33 points down or -1.33% lower compared to its previous closing price of $100.31. The stock had 3.645 million contracts set over the past session. BILL shares’ daily volume is compared to its average trading volume at 1.454 million shares. However, it has a float of 70.95 million and although its performance was 5.74% over the week, it’s one to watch. Analysts have given the BILL stock a yearly average price target of $93.22 per share. It means the stock’s downside potential is -5.82% with the BILL share price recently placing at $97.005 to $99.44. However, some brokerage firms have priced the stock below the average, including one that has called $96.
The shorts are running away from the Bill.com Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BILL shares have declined. Short interest in the stock represents just 3.83% of its float, but the volume has dropped by 0.
Looking at current readings, Bill.com Holdings, Inc.’s two-week RSI is 55.91. This suggests that the stock is neutral at the moment and that BILL shares’ price movement remains stable. The stochastic readings are equally revealing at 76.32% meaning the BILL share price is currently in oversold territory.
The technical chart shows that the BILL stock will likely settle at between $99.95 and $100.91 per share. However, if the stock dips below $97.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $96.04.
Currently, the stock is trading in the green of MACD, with a reading of 3.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Needham though raised target price of BILL stock from $110 to $120 but maintained Buy recommendation in their August 28 review. Oppenheimer analysts see the stock as a Outperform with a target price of $103 in a flash note released to investors on July 29 initiating covering the stock. Piper Sandler seeing the improvements upgraded the stock from Neutral to Overweight on May 28, placing it at $85.
The average rating for the BILL equity is 2.22 and is currently gathering a bullish momentum. Of 10 analysts tracking Bill.com Holdings, Inc. polled by Reuters, 4 rated BILL as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.