Bill.com price target lowered to $160 from $200 at Credit Suisse

Credit Suisse lowered the firm’s price target on Bill.com to $160 from $200 and keeps an Outperform rating on the shares following quarterly results. While the high-end of Bill.com’s full year 2023 revenue guide was maintained due to higher float revenue, management’s expectations embedding a continuation of softening macro trends in SMB customer spending led to a reduced 2023 core revenue guide by 4% to 43% year-over-year, the firm notes.