BILL - BILL Holdings Embraces Cost Control: Analyst Foresees Improved Profitability Following Workforce Reduction | Benzinga
Needham analyst Scott Berg reiterated a Buy rating on BILL Holdings, Inc (NYSE: BILL) with a price target of $100.
Yesterday, BILL announced a reduction in force of ~15% and plans to close their Sydney, Australia office as they use the resources to focus on key priorities and improve core business profitability.
According to the analyst, many of the RiF'd employees joined BILL from the acquired Invoice2go, which was co-headquartered in Sydney.
Berg says this signals a more "committed push for profitability" from BILL as they look to control costs as transactional revenues face continued macro-related headwinds.
The company ...