Needham & Company Starts BTRS Holdings Inc. (BTRS) at Buy

March 10, 2021 6:16 AM EST
Get Alerts BTRS Hot Sheet
Price: $15.30 -1.23%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Needham & Company analyst Mayank Tandon initiates coverage on BTRS Holdings Inc. (NASDAQ: BTRS) with a Buy rating and a price target of $20.00.

The analyst comments "BTRS was established through the merger of Billtrust and South Mountain Merger Corp. and operates as a leading B2B payments provider focusing on the AR side of payments. BTRS' offerings are comprehensive with specialized solutions for invoicing, payment acceptance, collections, and e-commerce for enterprise and middle market organizations. With ~50% of the $120 trillion in global commercial payments being processed by paper checks, we believe there is a long runway for growth that BTRS is well positioned to capitalize on. Our $20 price target is based on an EV/net revenue multiple of 21.5x our FY22 estimate and implies ~30% upside."

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 $15.48 yesterday.

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