These Goldman Sachs Comments Sent Shares Soaring Today By


© Reuters. These Goldman Sachs Comments Sent (BILL) Shares Soaring Today

By Senad Karaahmetovic

Shares of (NYSE:) are up over 7.5% today after Goldman Sachs analyst Will Nance said he expects the company to reach profitability “sooner than later.”

Nance raised the price target to $180.00 per share from $170.00 to reflect this forecast.

Moreover, the analyst sees “a handful of catalysts from current levels (faster customer acquisition from FI channel, payment monetization, continued Divvy growth and cross-sell, subscription price increases, higher float revenue).”

These positives should result in “better than expected top-line results over the coming year.”

“We expect this strong revenue momentum to push EBITDA margins into the realm of consistent profitability in F2023, and believe BILL will likely see full year profitability in FY2023 (although we believe a desire to be conservative given the macro could lead to a more conservative outlook initially),” Nance added in a note to clients.

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