Bill should be bought on weakness, says Piper Sandler

Piper Sandler recommends growth investors “rebuild core positions” in Bill on any weakness after the company’s fiscal 2024 growth outlook of 22-23% came in slightly below consensus of 25% on a conservative float guidance and renegotiated terms of a Bank of America contract. Bill remains one of Piper’s highest conviction growth stocks to own ahead of the next major Divvy product catalyst this fall, the analyst tells investors in a research note. It believes the risk/reward is favorable at current levels and reiterates an Overweight rating on the name with a $165 price target.