KeyBanc Downgrades BTRS Holdings Inc. (BTRS) to Sector Weight Following PE Bid

KeyBanc analyst Josh Beck downgraded BTRS Holdings Inc. (NASDAQ: BTRS) from Overweight to Sector Weight following private equity bid.

The analyst commented, "Following the announcement of the proposed acquisition of Billtrust by EQT, we see the proposed price at 9.9x ’23 EV/GP as a fair bid and believe the flexibility offered to scale the business further in a private market setting may offer a superior path to further unlocking shareholder value. With shares trading near the proposed purchase price, we see limited upside from current levels, which prompts a downgrade to Sector Weight.."

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

Shares of BTRS Holdings Inc. closed at $9.30 yesterday.

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