- Citigroup analyst Andrew Schmidt initiates coverage on Bill.com Holdings Inc (NYSE:BILL) with a Buy rating and a price target of $131.
- BILL is a scarce pure-play on B2B commerce digitization and intelligence for SMBs, per the analyst in a note titled ” Buy BILL – King of the SMB Cash Conversion Cycle.”
- It drives digitization and automation across the cash conversion cycle via AP, AR, payments, and other tools.
- The large end market and secular B2B Payments and Software growth runway are the foundation of the opportunity on top of this, the company has built efficient SMB distribution and a 4.7+ million B2B network, which are difficult-to-replicate growth assets.
- These assets and execution support myriad ways to win.
- Correspondingly, it has an attractive, higher-growth financial model and is profitably scaling.
- The near-term macro environment remains. However, the longer-term positives outweigh the risks, as per the analyst.
- The analyst looked for the stock to grind up over time with strategic and financial execution.
- Price Action: BILL shares traded higher by 3.37% at $117.25 on the last check Friday.
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