As previously reported, Seaport Research downgraded Bill (BILL) to Neutral from Buy. The firm sees downside to the company’s guidance of 20% core revenue growth in FY26, noting that the firm’s updated forecasts are now below consensus. Beyond just Bill, the firm is adjusting estimates lower across the board in Fintech ahead of earnings, reflecting its view in terms of how this new, emerging “tariff-heavy” paradigm will eventually impact names in the group.
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