UBS analyst Taylor McGinnis initiated coverage of Bill with a Buy rating and $95 price target. The shares trade at roughly a turn discount to peers with similar revenue growth, which is due to the company’s material total payment volume deceleration and rising competition concerns, the analyst tells investors in a research note. The analyst is cautious on near-term small business spend, but believes greater deterioration is largely reflected in current Street estimates. Negativity is already embedded in Bill shares, creating a view risk/reward that is "biased upward at these levels," contends UBS.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BILL: