Investing.com -- KeyBanc Capital Markets sees manageable competition between Bill Com Holdings Inc (NYSE:BILL) and Intuit Inc (NASDAQ:INTU), brokerage said based on a survey.
The survey indicates Intuit's QuickBooks Bill Pay, launched in second half of 2023, is unlikely to significantly impact Bill Com Holdings’ market position.
“We see limited evidence at present that suggests material share donation, either by way of churn or shrinkage in top of funnel opportunities for BILL, as a result of Intuit's entry into the category,” analyst of KeyBanc said.
About 70% of respondents said they were "not likely" to recommend QuickBooks Bill Pay to clients, with integration and functionality ranking higher than price as decision factors.
QuickBooks Bill Pay is expected to capture 10% of SMBs new to accounts payable software and 7% from existing AP users, suggesting minimal churn for Bill Com Holdings.
KeyBanc raised BILL's fiscal 2025 revenue and operating income estimates, given stronger customer additions and higher float revenue due to revised interest rate assumptions. Intuit estimates remain unchanged, given the early stage of QuickBooks Bill Pay adoption.
The brokerage noted BILL's competitive dynamics, on positive channel feedback.
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