As previously reported, Baird analyst David Koning initiated coverage of Bill with a Neutral rating and $86 price target. The firm likes the theme of A/P software automation and payments and expects "a strong secular shift" toward B2B electronic payments and away from physical checks over time. However, the firm’s Neutral rating reflects the belief that payment volume from SMBs could slow in coming months, although it expects about 20%-plus revenue growth over the next several years as more B2B payments are done by card.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on BILL:
- Bill initiated with a Neutral at Baird
- Bill price target lowered to $120 from $140 at Susquehanna
- Bill doesn’t see structural obstacles preventing 30% operating margins
- Jefferies software/Internet analyst to hold analyst/industry conference call
- Citi cuts Bill target but says risk/reward favorable after selloff
