JPMorgan Stays Overweight on Bill.com Holdings Inc. (BILL) Following Conference Noting 'Cross-Selling Growth Catalyst'

JPMorgan analyst Tien-tsin Huang reiterated an Overweight rating on Bill.com Holdings Inc. (NYSE: BILL).

The analyst comments "Cross-Selling Growth Catalyst. BILL is in the early innings of crossselling Divvy to the 50% of its installed base that management sees as prospects. As the company figures out the proper GTM/bundling techniques and starts seeing gradual behavioral changes from customers, this cross-sell could be really meaningful to the model, with management anticipating some financial impact in FY23. Path to Profitability remains a strong focus, with management focusing on ROI hurdles and <5 quarter paybacks for investments, and a disciplined M&A framework as it looks to add differentiated products / use cases opportunistically. We agree that now is the right time to invest in market penetration, but given such a high level of investment, the market will likely hold BILL to a higher standard of growth."

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 $118.63 yesterday.

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