Needham analyst Scott Berg maintained a Buy rating on Bill.com Holdings today and set a price target of $75.00.
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Scott Berg has given his Buy rating due to a combination of factors that indicate a promising outlook for Bill.com Holdings. The insights from an accounting consultant suggest that business spending is on the verge of a significant increase, driven by recent interest rate cuts that are expected to boost spending in the coming year. Additionally, there is a notable shift from traditional payment methods like checks to more modern options such as ACH and virtual cards, which is anticipated to enhance the company’s revenue through improved take-rates.
Moreover, the competitive landscape remains advantageous for Bill.com, as the merger between Zero and Melio does not pose a significant threat. The growing shortage of accounts payable clerks is likely to accelerate the adoption of AP automation solutions, with Bill.com being a leading choice for new opportunities. This trend, coupled with the potential interest in AP Agents to bridge productivity gaps, supports the positive growth prospects for the company.
According to TipRanks, Berg is an analyst with an average return of -4.6% and a 37.45% success rate. Berg covers the Technology sector, focusing on stocks such as Bill.com Holdings, Zeta Global Holdings Corp, and Freshworks.