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Bottomline target range lowered to $55-$60 from $60-$65 at Barrington. Barrington analyst Gary Prestopino lowered his price target range for Bottomline Technologies to $55-$60 from $60-$65 after the company reduced its fiscal 2019 guidance to reflect currency moves. The analyst slightly lowered his adjusted EBITDA estimates for fiscal 2019 and 2020 but keeps an Outperform rating on Bottomline.

Bottomline Technologies price target lowered to $65 from $77 at Raymond James. Raymond James analyst John Davis lowered his estimates for Bottomline Technologies and cut his price target on the stock to $65 from $77 stating that the company's Q2 results were in-line to slightly better "pretty much across the board" outside of subs and transactions. However, he believes there is likely "some ASC 606 related noise" and said "there certainly wasn't anything thesis-changing in the quarter." Davis keeps a Strong Buy rating on Bottomline shares.

Bottomline Technologies price target cut to $55 from $63 at Craig-Hallum. Craig-Hallum analyst George Sutton maintained a Hold rating on Bottomline Technologies and cut his price target to $55 from $63, telling investors in a research note that while the company's headline results for Q2 were "reasonable," the details weren't particularly good with the important subs and transactions line missing estimates. Sutton believes the reduction in guidance to below the long-standing $300M revenue bogey for subscription and transaction revenue was disappointing, but was modestly encouraged that backlog improved a bit y/y vs. declines in the prior quarter.

Bottomline Technologies price target lowered to $47 from $56 at DA Davidson. DA Davidson analyst Peter Heckmann lowered his price target on Bottomline Technologies to $47 and kept his Neutral rating after its results, saying that Q2 revenues edged out his expectations but the guidance for Q3 was disappointing due to increased FX headwinds related to weaker GBP. The analyst adds that the "more significant decline in earnings guidance was not fully explained" on the call despite a number of questions on the matter, also lowering his FY20 and FY21 EPS forecasts by 18c and 20c respectively to $1.52 and $1.76.

Bottomline Technologies price target lowered to $62 from $68 at Needham. Needham analyst Mayank Tandon lowered his price target on Bottomline Technologies to $62, saying that while its Q2 results were solid, the management guided Q3 below consensus and also reduced its outlook for FY19 due to FX headwinds. The analyst keeps his Buy rating on the shares however, stating that the company's bookings strength, supported by notable deal wins across its core service lines, underscores the underlying strength of its digital banking and B2B payments solutions.