Mizuho Securities analyst Siti Panigrahi maintains $Paylocity (PCTY.US)$ with a hold rating, and adjusts the target price from $155 to $175.
According to TipRanks data, the analyst has a success rate of 48.2% and a total average return of -1.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Paylocity (PCTY.US)$'s main analysts recently are as follows:
In an overview of the software sector's Q3 earnings, one observation was that supplier checks showed a decline, tempering enthusiasm for the upcoming software earnings season. The analysis suggested a favorable outlook for Dynatrace, anticipating the potential for an earnings beat and upward revisions. Additionally, there was a mention of weaker indicators for Microsoft, though it was noted that this may already be reflected in its valuation. It was also pointed out that DoubleVerify may face a challenging environment that could limit its upside potential.
The cloud payroll sector is noted to have been underperforming, attributed to unsatisfactory results and worries regarding market penetration. It's suggested that the most challenging period might be in the past, yet significant outperformance isn't anticipated this quarter due to persistent macroeconomic challenges. Nevertheless, it's indicated that Paylocity stands well-prepared in this scenario, having taken a cautious approach to their fiscal 2025 guidance.
Note:
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