Bill price target lowered to $95 from $165 at Piper Sandler

Piper Sandler lowered the firm’s price target on Bill to $95 from $165 and keeps an Overweight rating on the shares following the quarterly results, citing unfolding SMB spending cracks. The medium-term opportunity and risk-reward relative to peers at greater than 30% premiums is compelling enough to remain at Overweight despite heightened execution risks and disappointing guidance, the analyst tells investors in a research note.