In a report released today, Bradley Sills from Bank of America Securities reiterated a Buy rating on Bill.com Holdings (BILL – Research Report), with a price target of $120.00.
Bradley Sills has given his Buy rating to Bill.com Holdings (BILL) due to a combination of factors. Sills believes that BILL is well poised to gain a larger share of the $130 billion payables and payment total addressable market (TAM) due to its leading network, variety of payment modalities, and direct and accounting firm partner channels. Additionally, Sills sees potential for the company’s transaction revenue to reaccelerate to a growth of over 40% by the end of FY24, based on improving customer numbers, total payment volume (TPV) per customer, and monetization.
Furthermore, Sills notes that the company is performing well in a challenging macroeconomic environment, with stable deal activity and customer additions. The company’s efforts to integrate with NetSuite and Sage Intacct, and the ramping adoption of its cross-border services, also appear to be yielding positive results. Sills anticipates an upside to BILL’s core revenue, driven by better standalone transaction revenue and Divvy revenue. These factors, coupled with Sills’ confidence in BILL’s Q2FY24 revenue estimate, justify his Buy rating for the company’s stock.
In another report released on October 23, Jefferies also reiterated a Buy rating on the stock with a $122.00 price target.
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Bill.com Holdings (BILL) Company Description:
Bill.com Holdings, Inc. is a holding company, which engages in the provision of cloud-based software solutions. It simplifies, digitizes, and automates complex back-office financial operations for SMBs. The firm’s software helps customers to generate and process invoices, streamline approvals, send and receive payments, sync with their accounting system, and manage their cash. The company was founded by Rene Lacertea in August 2, 2018 and is headquartered in Palo Alto, CA.
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