In a report released today, Scott Berg from Needham maintained a Buy rating on Bill.com Holdings (BILL – Research Report), with a price target of $75.00.
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Scott Berg has given his Buy rating due to a combination of factors that highlight Bill.com Holdings’ strategic position in the market. The recent acquisition of Melio by Xero for $2.5 billion has brought attention to Bill.com, emphasizing its potential as a valuable asset in the B2B payment sector. Despite the end of its partnership with Xero, the acquisition underscores the importance of integrating accounts payable (AP) automation into accounting software, a space where Bill.com excels.
Furthermore, Berg believes that the B2B payment market is optimally served by an independent vendor like Bill.com, which is not tied to any specific accounting platform. This independence positions Bill.com as a superior option for AP vendors seeking to enhance their payment functionalities. The company’s robust value proposition and strategic advantages in the market support Berg’s positive outlook and Buy rating.
In another report released yesterday, Citi also reiterated a Buy rating on the stock with a $67.00 price target.