Needham Reiterates Buy Rating on Bill.com Holdings Inc. (BILL)

Needham analyst Scott Berg reiterated a Buy rating and $100.00 price target on Bill.com Holdings Inc. (NYSE: BILL).

The analyst commented: "We met with BILL's CFO John Rettig and Head of Investor Relations Karen Sonset during our San Francisco bus tour last week, with the discussion focusing on take-rates, cross-sell, and the accounting/financial verticals. Our key takeaway is the transitory nature of 2Q take rate headwinds which included an unnaturally high FX headwind as well as typical seasonality. We also discussed the newly integrated Spend & Expense (Divvy) solution, with management bullish on the improved cross-sell opportunity that could drive incremental monetization tailwinds. Finally, BILL is doubling down on the accounting channel with deeper penetration of large clients while rolling out the new embedded offering."

For an analyst ratings summary and ratings history on Bill.com Holdings Inc. click here. For more ratings news on Bill.com Holdings Inc. click here.

Shares of Bill.com Holdings Inc. closed at $46.42 yesterday.

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