Evercore analyst Kirk Materne maintains $Tyler Technologies (TYL.US)$ with a hold rating, and adjusts the target price from $425 to $620.
According to TipRanks data, the analyst has a success rate of 61.3% and a total average return of 10.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Tyler Technologies (TYL.US)$'s main analysts recently are as follows:
Tyler Technologies' third-quarter results and the increased fiscal 2024 margin guidance to a range of 21%-23% establish a new baseline for fiscal 2025, which has been noted as a significant update for investors.
Tyler Technologies has updated its 2024 free cash flow margin guidance upwards by 3 percentage points, despite reporting revenue results that met expectations. The company's ability to generate substantial free cash flow above the previously set 2025 target, with a new 2024 guidance of 22%, demonstrates its efficiency in cloud initiatives. This efficiency bolsters confidence in achieving a 24% free cash flow margin by 2027.
The firm noted that Tyler Technologies' transition to a successful model has provided enhanced value to clients, the organization itself, and its investors. It is observed that Tyler is delivering on all these aspects presently and is exceeding expectations with its strategy.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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