BILL Holding shares are trading lower after the company reported Q2 financial results and issued Q3 and FY24 guidance. Also, Wells Fargo maintained an Equal-Weight rating on the stock and lowered its price target from $75 to $70.
Portfolio Pulse from Benzinga Newsdesk
BILL Holding's shares declined following the announcement of its Q2 financial results and future guidance for Q3 and FY24. Additionally, Wells Fargo adjusted its stance on BILL, maintaining an Equal-Weight rating but reducing the price target from $75 to $70.
February 09, 2024 | 3:52 pm
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NEGATIVE IMPACT
BILL Holding's stock price fell after reporting Q2 financials and issuing guidance for Q3 and FY24, with Wells Fargo lowering its price target.
The decline in BILL Holding's stock price is directly attributed to its Q2 financial performance and the future guidance it provided, which likely did not meet investor expectations. Additionally, the reduction in the price target by Wells Fargo, a significant financial institution, further impacts investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100