Bill.com price target lowered to $200 from $220 at Morgan Stanley

Morgan Stanley analyst Keith Weiss lowered the firm’s price target on Bill.com to $200 from $220 and keeps an Overweight rating on the shares. Given rising investor concerns around small-to-midsize business exposure in a softening macro environment, Bill’s Q1 results "proved better than feared," Weiss tells investors. Macro impacts were more apparent in Q1, but the company’s "solid execution" and growing market opportunity leave him recommending the shares.