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Aug. 19, 2021, 9:35 a.m. EDT

Bill.com stock gets upgrade ahead of earnings

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By Emily Bary

Bill.com Inc. /zigman2/quotes/215406166/composite BILL -1.99% shares received a vote of confidence ahead of the company's earnings report next week as Jefferies analyst Samad Samana upgraded the stock to buy from hold. "We generally avoid ratings changes shortly before results; however, we believe BILL's F4Q print is set to be unique," he wrote, with the company set to report earnings on Aug. 26. Samana expects that Bill.com will issue a full-year forecast for the first time since the start of the pandemic and include its Divvy acquisition in that outlook. "We expect BILL to guide for FY22 revenue of at least ~$425 million vs. consensus of ~$295 million," he wrote. "More important, we expect the new outlook to be the first of many steps that make the path to $700 million (CY23) and $1 billion (CY24) much clearer." Divvy, which makes spend-management tools for businesses, is showing "hyper-growth," according to Samana, and he's upbeat about cross-selling opportunities. Bill.com shares are up 1.5% in Thursday morning trading following the upgrade. They've gained 49% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.53% has risen 6.4%.

/zigman2/quotes/215406166/composite
US : U.S.: NYSE
$ 247.01
-5.01 -1.99%
Volume: 1.68M
Dec. 2, 2021 12:17p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$25.85 billion
Rev. per Employee
$172,157
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/zigman2/quotes/210599714/realtime
US : S&P US
4,582.12
+69.08 +1.53%
Volume: 1.22B
Dec. 2, 2021 12:17p
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