Bill price target lowered to $78 from $98 at BMO Capital

BMO Capital lowered the firm’s price target on Bill (BILL) to $78 from $98 and keeps a Market Perform rating on the shares. Against the generally constructive investor sentiment into Q2 results, Bill posted the smallest revenue beat since the IPO, the analyst tells investors in a research note. Most notably, take-rate performance disappointed, and the firm is “comfortable remaining patient” even though the company is making some progress on monetization, BOM added.