** Shares of Bill Holdings BILL.N tumble ~30% premarket to $67.59, a three month low, after financial software platform's forecast disappoints
** San Jose, California co late Thurs said expects FY25 core rev, comprising subscription and transaction fees, to grow 16%-17% y/y to $1.297-$1.312 bln
.** Q2 core rev increased 16% from year ago to $319.6 mln, while total rev of $362.6 mln, up 14% y/y, topped LSEG estimate of $360.2 mln
** Adj EPS in qtr of 56 cents surpassed consensus by 10 cents
** Jefferies, which rates BILL 'buy' ($102 PT), said on earnings call the co maintained its goal of returning to 20%+ core rev growth over time, but brokerage believes investors had expected it to reach that level by end of this fiscal year
** Reacting to the report, KBW cut its PT to $77 from $95, Mizuho reduced PT to $70 from $75
** Of 25 brokerages covering BILL, recommendation breakdown is 17 "strong buy" or "buy", 7 "hold" and 1 "sell"; median PT is $90 - LSEG
** Through Thurs close, stock up ~14% YTD and has more than doubled over the past six months
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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