Evercore ISI Downgrades BILL Holdings PT to $48 from $50, Maintains In-Line Rating

Evercore ISI Downgrades BILL Holdings PT to $48 from $50, Maintains In-Line Rating

Evercore ISI has downgraded its price target on BILL Holdings (BILL) from $50 to $48, while maintaining an in-line rating on the stock. The revision follows recent financial performance and market conditions.

BILL Holdings, valued at approximately $10 billion, has seen its shares fluctuate in the past week. According to InvestingPro analysis, the stock currently trades at a premium valuation with a P/E ratio of 120x. The company reported its fiscal second-quarter earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.35, exceeding the forecast of $0.30. Additionally, BILL Holdings reported revenue of $350 million, which was higher than the projected $330 million.

Evercore ISI attributed the downgrade to the company's recent financial performance and market conditions. The company's gross margins reached 65.1%, representing a 100 basis point improvement quarter-over-quarter. However, the company's guidance for the second half of its fiscal year suggests revenue acceleration with mid-teens year-over-year growth expected, compared to 12-13% growth in the first half.

For fiscal year 2026, BILL Holdings now forecasts sales of $1.5 billion and earnings per share of $1.20, surpassing previous Street expectations of $1.45 billion and $1.15, according to Evercore ISI’s estimates.

The company has begun seeing revenue contribution from its new product line, with expectations to deploy 1-2 exabytes in the second half of this year and double-digit exabytes in fiscal year 2027.

In other recent news, Piper Sandler responded to these results by raising its price target for BILL Holdings from $45 to $55, maintaining an Overweight rating on the shares.

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References:
[1] https://www.investing.com/news/analyst-ratings/pure-storage-stock-price-target-raised-to-80-from-70-at-evercore-isi-93CH-4213747
[2] https://www.cnbc.com/2025/08/26/trump-risks-a-riot-in-the-bond-market-with-attempted-cook-firing-says-evercore-isis-guha.html
[3] https://seekingalpha.com/news/4489274-trump-s-firing-of-fed-gov-cook-accelerates-trumpification-of-the-fed-evercore-isi