Bill price target lowered to $65 from $95 at Mizuho

Mizuho lowered the firm’s price target on Bill to $65 from $95 and keeps a Neutral rating on the shares. The company reported fiscal Q1 ahead of consensus but the disappointing Q2 guidance and lowered full-year outlook drove shares down, the analyst tells investors in a research note. The firm believes the increasing competitive threat of Intuit’s native bill pay offering will likely impact Bill’s growth over the medium to longer-term.