Stock Alert: Bill.com Uptick Continues

(RTTNews) - Shares of Bill.com Holdings, Inc. (BILL) are rising more than 6% Tuesday morning, at $83.97, building on last week's momentum. The stock had hit a new high of $97.84 last week on the back of upbeat third-quarter results.

Bill.com provides cloud-based software to digitize, and automate back-office financial operations for small and midsize businesses. During the coronavirus pandemic, many companies have shifted to work from home mode, helping the company's stock. It more than tripled from the 52-week low of $23.61, hit in March.

Adjusted loss for the third quarter of $0.04 per share had surpassed the consensus estimate at $0.10 loss per share.

Revenue for the quarter jumped 46% year-on-year to $41.2 million.

The company'scustomer base had grown 28% year-on-year at 91,000 in the quarter.

"Our platform is mission-critical to SMBs and we have found this to be especially true in the current work-from-home environment. We are optimistic that our purpose-built platform will resonate even more with SMBs who are now coping with the reality that the old way of managing their back-office financial operations doesn't work anymore," commented Bill.com CEO René Lacerte.