Bill price target lowered to $57 from $75 at BMO Capital

BMO Capital analyst Daniel Jester lowered the firm’s price target on Bill to $57 from $75 and keeps a Market Perform rating on the shares after its Q4 results and initial FY25 outlook given last week. Bill’s moderating growth and margin indicated that the FY25 guidance is consistent with a company that is navigating slowed macro conditions in a competitive market category, though the evidence of progress of planned new investments should reaccelerate Bill across product and supplier experience, with a more favorable comp backdrop expected in the second half of FY25, the analyst tells investors in a research note.