Why BTRS Holdings Rebounded 13% This Morning
Shares of software outfit BTRS Holdings (NASDAQ: BTRS) -- better known as Billtrust -- were up by 13% as of 11:59 a.m. EDT Monday. Its shares have been steadily on the decline since the SPAC merger that brought the company public in January. However, an analyst at JPMorgan Chase (NYSE: JPM) recently rated the stock a buy and put a price target of $15 on it -- implying some 60% upside from where it's trading now.
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Billtrust provides cloud-based software for billing and payments, helping its customers save time and money compared to traditional invoicing and check-acceptance methods. The company reported 27% year-over-year revenue growth in its software and payments business in Q2 2021 to $24.6 million. But with a market cap of upwards of $2.5 billion earlier this year, expectations were high for Billtrust.
Source Fool.com
