Truist Securities upgraded BILL to "buy" from "hold"
Software stock BILL Holdings Inc (NYSE:BILL) was last seen up 0.6% at $52.88 after an upgrade from Truist Securities to "buy" from "hold," with a price-target hike to $63 from $50. The firm cited potential growth with help from new activist shareholders Elliott Management and Starboard, just over a week after Wolfe Research upgraded BILL to "outperform."
There is still plenty of room for upgrades, however. Data from before today's adjustments shows 12 of the 26 analysts in coverage still carrying a "hold" rating.
BILL broke out of a range that kept it below $49 earlier this month, and is now heading for its third-straight daily win. The shares have yet to recover from their steep February bear gap, and are down 37.4% year to date.
Short covering could keep wind at BILL's back. Short interest has been building, and now represents 11% of the stock's available float.
When weighing in on BILL stock's next move, options look like a good way to go. The security's Schaeffer's Volatility Index (SVI) of 42% ranks in the 5th percentile of its annual range, meaning options traders are pricing in low volatility expectations.