Bill.com Holdings Inc. (BILL) PT Raised to $170 at Needham & Company
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Needham & Company analyst Scott Berg raised the price target on Bill.com Holdings Inc. (NYSE: BILL) to $170.00 (from $120.00) while maintaining a Buy rating.
The analyst commented, "Bill reported exceptional 2Q financial results driven by significantly higher total payment volume as transactions caught up from pandemic related delays. Although payments per customer remain about 10% lower than before the pandemic, average cost per transaction increased 69% Y/Y to help drive a 40% increase in payment volumes. The company added 5,600 new customers which was above our 5k estimate from partners continuing to drive new business towards BILL at a high level. Although customer growth could moderate post-pandemic, we believe the secular growth in digital payment usage and a mix shift towards more real-time payments will drive 40% core revenue growth for several years and support one of the highest valuations in our Enterprise Software universe."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
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