BILL shares are trading lower after the company reported Q1 financial results and cut FY24 total revenue guidance. Following earnings, Keybanc downgraded the stock from Overweight to Sector Weight.
Portfolio Pulse from Benzinga Newsdesk
Bill.com (BILL) reported Q1 financial results and reduced its FY24 total revenue guidance, leading to a drop in its share price. Following the earnings report, Keybanc downgraded the stock from Overweight to Sector Weight.
November 03, 2023 | 3:32 pm
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Bill.com's shares are trading lower after the company reported Q1 results and cut its FY24 revenue guidance. Keybanc downgraded the stock, which could further impact the share price.
Bill.com's lower than expected Q1 results and reduced FY24 revenue guidance indicate potential financial instability, which is likely to negatively impact investor sentiment and the stock price. Additionally, Keybanc's downgrade of the stock could further discourage investors, leading to a potential decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100