5 Beaten-Down Tech Stocks to Buy Today for Long-Term Gains

In this article, we discuss 5 beaten-down tech stocks to buy today for long-term gains. If you want to see more stocks in this selection, click 10 Beaten-Down Tech Stocks to Buy Today for Long-Term Gains. 

5. Bill.com Holdings, Inc. (NYSE:BILL)

Number of Hedge Fund Holders: 58

YTD Decline in Share Price as of June 8: 42.63%

Bill.com Holdings, Inc. (NYSE:BILL) was founded in 2006 and is headquartered in San Jose, California. The company offers cloud-based software that simplifies and automates back-end financial algorithms for small and mid-sized businesses around the world. The company posted a Q1 revenue of about $167 million, outperforming estimates by $9 million. Year-to-date, the stock has stopped about 43% as of June 8. 

KeyBanc analyst Josh Beck on May 31 reiterated an Overweight rating on Bill.com Holdings, Inc. (NYSE:BILL) but lowered the firm’s price target on the stock to $175 from $225. The analyst advised investors to open positions in Bill.com Holdings, Inc. (NYSE:BILL) amid the rising rates and recession-driven pull-back, as he sees the opportunity to own an elite tech company in a market that is less than 5% penetrated. Bill.com Holdings, Inc. (NYSE:BILL) offers market leadership and network effects, meaningful execution-driven synergies, good management, and a robust mix of growth and profitability, the analyst added.

According to Insider Monkey’s Q1 data, 58 hedge funds were bullish on Bill.com Holdings, Inc. (NYSE:BILL), down from 65 funds in the earlier quarter. Gabriel Plotkin’s Melvin Capital Management held the biggest position in the company, comprising 1.6 million shares worth $367.8 million. 

Here is what Alger Mid Cap Focus Fund has to say about Bill.com Holdings, Inc. (NYSE:BILL) in its Q4 2021 investor letter:

“Bill.com Holdings, Inc., was among the top detractors from performance. Bill.com provides cloud-based software solutions that simplify, digitize, and automate complex back-office financial operations for small and medium size businesses. Its software helps customers to generate and process invoices, streamline approvals, send and receive payments, synchronize data with their accounting system and manage their cash.”