BUZZ-Bill Holdings tumbles as core rev outlook disappoints

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