Bill.com price target lowered to $150 from $200 at Deutsche Bank

Deutsche Bank analyst Bryan Keane lowered the firm’s price target on Bill.com to $150 from $200 and keeps a Buy rating on the shares. The analyst believes the company’s growth story "remains in the early stages," with much of the business-to-business payments market still underpenetrated and reliant on legacy payment methods such as paper checks. As such, Bill.com will continue its "strong growth trajectory" through continued customer acquisition and consistent growth in usage of high margin ad valorem payment methods. the firm contends. However, citing macro concerns, the analyst "materially cut" fiscal 2024 and 2025 numbers.