Bill price target lowered to $105 from $185 at Morgan Stanley

Morgan Stanley analyst Keith Weiss lowered the firm’s price target on Bill to $105 from $185 and keeps an Overweight rating on the shares. The "sharp" selloff since the company’s fiscal Q2 report in February has investors asking whether top-line weakness is more cyclical or structural in nature, but the firm remains "constructive on the longer-term secular story," the analyst tells investors. However, it is also being mindful of a more difficult near-term positioning until spending data inflects, the analyst added.