Baird lowered the firm’s price target on Bill to $70 from $120 and keeps a Neutral rating on the shares. The firm said management called out that the external economic environment has created challenges for SMBs/mid-market companies and this has resulted in deteriorating trends. Baird believes profitability trends are now in question with poor incremental margins.
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Read More on BILL:
- BILL’s (NYSE:BILL) FY24 Forecast Disappoints Investors
- Bill price target lowered to $65 from $95 at Mizuho
- Bill downgraded to Market Perform from Outperform at William Blair
- Bill downgraded to Sector Weight from Overweight at KeyBanc
- Bill cuts FY24 adjusted EPS view to $1.64-$1.97 from $1.82-$1.97
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