Baird lowered the firm’s price target on Bill to $65 from $70 and keeps a Neutral rating on the shares. The firm designated Bill as a Bearish Fresh Pick because although they think Bill is a great long-term company and like B2B payments, they think the stock is going to be difficult through year-end, as investors grapple with slowing growth and negative incremental EBIT margins, which doesn’t mix well with high stock comp.
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