Bill downgraded to Market Perform from Outperform at William Blair

William Blair downgraded Bill to Market Perform from Outperform. Although Bill’s Q1 results beat consensus on most headline metrics, the company lowered FY24 revenue and non-GAAP EPS guidance due to increased macro pressures, the analyst noted. Customers have pulled back spending and become more selective with which payment option they choose, pressuring the take-rate, the analyst added.