Bill.com Shares Soar As Analysts Bump Up Price Targets

Analysts bumped up price targets on Bill.com Holdings BILL following upbeat Q1 FY22 results.
Canaccord analyst Joseph Vafi raised the price target to $366 from $284, implying 24.5% upside, and reiterated a Buy.
The analyst believes core organic revenue growth is benefiting from the ongoing network effects of the Bill platform, along with cross-selling opportunities already being realized from Divvy.
Piper Sandler maintained Overweight and lifted the price target to $380, implying a 29.3% upside.
The firm is positive on 'another surprise acceleration in organic core revenue with 78% Y/Y growth' with 5,600 net quarterly adds; sees company's 'differentiated business riding an SMB finance transformation wave.'
SMBC Nikko maintained Outperform and raised the price target to $370, implying a 25.9% upside.
Needham maintained a Buy and increased the price target to $370.
KeyBanc affirmed Overweight and increased the price target to $375, implying a 27.6% upside.
The firm is positive on 'high-quality organic revenue beat' with organic growth guided to mid-50s from mid-40s; it sees the combination of strong organic trends to drive company strategy focused on back-office operations.
Price Action: BILL shares traded higher by 13.40% at $333.32 on the last check Friday.

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