Morgan Stanley said it’s time to buy Bill.com Holdings, which could jump more than 30% thanks to its market leadership in the growing payments sector. Analyst Keith Weiss initiated coverage of Bill.com with an overweight rating, saying the stock is at an “attractive entry point” after falling this year on macroeconomic concerns. Bill.com is down 32% this year and about 51% off its 52-week high. “Strong secular tailwinds driving penetration of a nascent market opportunity that can potentially reach $80 billion, a defensible moat under an effective distribution strategy and a solid execution track record outweigh the risks of SME exposure as investors seek the best quality software assets, Weiss wrote in a Monday note. The analyst said investors are underestimating the company, which is expected to have a long growth trajectory as a category leader in accounts payable and receivable digitization for small and medium-sized businesses. Weiss estimates that Bill.com will deliver more than 40% compound annual growth rate (CAGR) over the next five years. “Compelling value proposition, differentiated go-to-market strategy through direct sales, account partnerships and financial institution partners, driving +65% revenue CAGR (CY21-CY23E), second fastest in our coverage and solid results. foreclosure creates a favorable risk/reward for BILLA, so we initiate with OW,” the note reads. The firm’s $220 price target is 31% above where the stock closed Friday at $167.39. Shares jumped 2.5% in premarket trading on Monday. —CNBC’s Michael Bloom contributed to this report.