Bill.com, LLC
BILL
$47.82
+0.89%
BILL Holdings, Inc. is a leading provider of cloud-based software-as-a-service (SaaS) solutions for financial operations, specializing in automating accounts payable, accounts receivable, and spend and expense management for small and mid-sized businesses. The company's platform enables businesses to digitize and streamline their back-office financial processes, connecting them with suppliers and customers for seamless transactions. As a pioneer in the financial automation space, BILL has established itself as a dominant player, competing with the likes of SAP Concur and Expensify, and is recognized for its robust ecosystem and network effects. Currently, the stock is under the spotlight due to a notable activist investor's significant stake, which signals conviction in the company's turnaround potential despite recent market volatility. The narrative centers on BILL's ability to sustain double-digit revenue growth, achieve profitability, and expand its market share in a competitive landscape, with recent news highlighting a 17% core revenue increase and a 14% portfolio bet by a major investor.…
BILL
Bill.com, LLC
$47.82
Related headlines
BILL 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Bill.com, LLC's 12-month outlook, with a consensus price target around $56.60 and implied upside of +18.4% versus the current price.
Average Target
$56.60
0 analysts
Implied Upside
+18.4%
vs. current price
Analyst Count
—
covering this stock
Price Range
$42 - $75
Analyst target range
BILL is covered by 21 analysts, with a consensus recommendation of 'Buy' and a mean rating of 1.86 (where 1 is Strong Buy and 5 is Sell). The average price target is $56.24, implying an upside of approximately 17.6% from the current price of $47.82. The distribution of ratings is bullish, with a majority of analysts recommending Buy or Overweight, and only a few Hold/Neutral ratings. This consensus reflects optimism about the company's growth prospects and potential for margin expansion, despite recent challenges. The high target of $77.00 suggests that some analysts see significant upside, likely driven by expectations of accelerated revenue growth and improved profitability, while the low target of $42.00 implies a downside risk of about 12.2%, possibly factoring in competitive pressures or macroeconomic headwinds. The wide spread between the low and high targets (35.7% difference) indicates high uncertainty about the company's future performance, which is typical for a company in transition. Recent institutional actions show a mix of ratings, with Truist Securities downgrading from Buy to Hold in June 2026, while JP Morgan maintained Overweight, and Goldman Sachs reiterated Buy, suggesting a nuanced but generally positive sentiment.
Bulls vs Bears: BILL Investment Factors
BILL presents a mixed picture with strong revenue growth and improving profitability, but also faces decelerating growth and competitive pressures. The bull case is supported by the company's transition to profitability, attractive valuation relative to peers, and analyst optimism, while the bear case highlights growth deceleration and market underperformance. Currently, the evidence slightly favors the bulls, as the company is making tangible progress on profitability and trades at a significant discount to its historical valuation. The most critical tension is whether BILL can sustain double-digit revenue growth while expanding margins, as this will determine if the stock re-rates higher or continues to languish below its 52-week high.
Bullish
- Strong Revenue Growth: BILL's Q3 FY2026 revenue grew 13.5% YoY to $406.6 million, with core revenue up 17% as highlighted in recent news. This demonstrates continued demand for its financial automation platform despite macroeconomic headwinds.
- Improving Profitability: The company achieved positive net income of $12.8 million in Q3 FY2026, a significant turnaround from the -$11.6 million loss in the same quarter last year. Operating margin improved to 1.1% from -8.1% a year ago, showing clear progress toward sustainable profitability.
- Undervalued vs. Peers: With a PS ratio of 2.19x, BILL trades at a substantial discount to the software industry average of 8-10x. This suggests the market is pricing in lower growth expectations, potentially creating an opportunity if the company can sustain double-digit growth.
- Analyst Optimism: The consensus rating is 'Buy' with a mean score of 1.86, and the average price target of $56.24 implies 17.6% upside from the current price. The high target of $77 suggests significant upside potential if the company executes on its growth strategy.
Bearish
- Revenue Growth Deceleration: Revenue growth slowed from 14.7% YoY in Q2 FY2026 to 13.5% in Q3 FY2026, indicating a potential trend of deceleration. If this continues, it could pressure the stock's valuation multiple further.
- Negative TTM EPS: The trailing twelve-month EPS is -$0.0031, meaning the company is not yet consistently profitable on a GAAP basis. This limits the stock's appeal to value investors and makes valuation comparisons difficult.
- High Valuation Risk: The forward PE of 11.02x assumes significant earnings growth, which may not materialize if revenue growth continues to slow. The PEG ratio of 2.22x suggests the stock is not cheap relative to its growth rate.
- Underperformance vs. Market: BILL has underperformed the S&P 500 over the past year (15.9% vs. 20.5%) and over the past six months (3.5% vs. 11.1%). This relative weakness could persist if the market continues to favor larger, more profitable tech names.
BILL Technical Analysis
BILL's stock has exhibited a strong recovery trend over the past year, with a 1-year price change of +15.93%, though it remains well below its 52-week high. The current price of $47.82 sits at approximately 83.6% of the 52-week range (between $31.41 low and $57.21 high), indicating a rebound from the lows but still facing overhead resistance. This positioning suggests that while the stock has recovered significantly from its trough, it has not yet reclaimed its previous highs, reflecting a mix of cautious optimism and lingering bearish sentiment. The 6-month price change of +3.51% further underscores a gradual recovery, but the stock's relative strength against the S&P 500 over the same period is negative (-7.56%), implying underperformance relative to the broader market.
Beta
1.09
1.09x market volatility
Max Drawdown
-43.2%
Largest decline past year
52-Week Range
$31-$57
Price range past year
Annual Return
+15.9%
Cumulative gain past year
| Period | BILL Return | S&P 500 |
|---|---|---|
| 1m | +14.2% | +3.6% |
| 3m | +32.3% | +2.7% |
| 6m | +3.5% | +11.4% |
| 1y | +15.9% | +18.7% |
| ytd | -5.4% | +12.3% |
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BILL Fundamental Analysis
BILL's revenue trajectory shows consistent growth, with the most recent quarter (Q3 FY2026, ending March 31, 2026) reporting revenue of $406.6 million, a 13.5% year-over-year increase. This growth, while solid, represents a deceleration from the previous quarter's 14.7% YoY growth (Q2 FY2026 revenue of $414.7 million), indicating a slight slowdown. The company's revenue is primarily driven by subscription and transaction fees, which accounted for $371.1 million in the quarter, with interest on customer funds contributing an additional $35.4 million. The growth trend remains positive, but the deceleration warrants monitoring, as it could signal market saturation or increased competition. The company's ability to maintain double-digit growth is crucial for its investment thesis, and the recent 17% core revenue growth highlighted in news suggests resilience.
Quarterly Revenue
$406563000.0B
2026-03
Revenue YoY Growth
+13.5%
YoY Comparison
Gross Margin
81.6%
Latest Quarter
Free Cash Flow
$383057999.0B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is BILL Overvalued?
Given that BILL's trailing twelve-month net income is negative (EPS of -$0.0031), the price-to-earnings (PE) ratio is not meaningful, so I selected the price-to-sales (PS) ratio as the primary valuation metric. The current PS ratio stands at 2.19x, based on a market cap of $3.61 billion and trailing twelve-month revenue of approximately $1.65 billion. This is a significant discount to the company's historical average PS ratio, which has ranged from 9.5x to 215x over the past five years, indicating that the market is currently pricing in lower growth expectations or higher risk. The forward PE ratio of 11.02x, however, suggests that analysts expect earnings to improve substantially, implying a potential re-rating if the company achieves profitability. The PS ratio of 2.19x is well below the software industry average of around 8-10x, suggesting the stock is trading at a substantial discount to its peers, which could be justified by its recent unprofitability and slower growth compared to high-growth SaaS companies.
PE
-328.7x
Latest Quarter
vs. Historical
Low-End
5-Year PE Range 54x~185x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
41.3x
Enterprise Value Multiple