On Wednesday, KeyBanc Capital Markets maintained a positive outlook on Bill.com Holdings Inc. (NYSE: NYSE:BILL), reiterating an Overweight rating.
The endorsement comes after a thorough analysis of recent survey results and follow-up discussions, which bolstered the firm's confidence in Bill.com's competitive position against Intuit (NASDAQ:INTU).
The research conducted by KeyBanc solidified their view, initially presented in a December 18, 2024, upgrade, that Bill.com is not losing significant market share to Intuit.
The findings indicated that there is no substantial evidence of customer churn or a decrease in new business opportunities for Bill.com due to Intuit's presence in the market.
KeyBanc analysts have set a price target of $115.00. Their analysts are projecting revenues and adjusted operating income that surpass consensus expectations on Wall Street.
This adjustment is largely attributed to an anticipated increase in customer additions for Bill.com's accounts payable and receivable services throughout the fiscal year 2025.
Additionally, the firm's forecast for Bill.com's float revenue has been slightly increased. This adjustment reflects both the expected growth in customer numbers and revised assumptions about interest rates.
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