On Oct 31, major Wall Street analysts update their ratings for $Paylocity (PCTY.US)$, with price targets ranging from $180 to $250.
Barclays analyst Raimo Lenschow maintains with a hold rating, and adjusts the target price from $174 to $180.
Jefferies analyst Samad Samana maintains with a buy rating, and adjusts the target price from $200 to $215.
TD Cowen analyst Jared Levine maintains with a buy rating, and maintains the target price at $186.
Needham analyst Scott Berg maintains with a buy rating, and adjusts the target price from $200 to $220.
KeyBanc analyst Jason Celino maintains with a buy rating.
Furthermore, according to the comprehensive report, the opinions of $Paylocity (PCTY.US)$'s main analysts recently are as follows:
The firm perceives Paylocity's fiscal Q1 results to be slightly favorable for the stock. Following a reduction in sales forecasts in the previous quarter, the company has now reported robust results that exceeded expectations and has increased its outlook.
Paylocity experienced a notable first-quarter performance, surpassing expectations on both revenue and earnings, primarily due to robust sales execution and enhanced cost management. The company has increased its revenue outlook for FY25 to include the impact of Airbase contributions, and has incorporated the full extent of the quarterly outperformance, along with an additional $1M-$2M for further organic growth. Nevertheless, the EBITDA forecast has been modestly adjusted down to account for anticipated interest rate reductions and the dilutive effects of Airbase.
The company has initiated FY25 with robust total revenue performance and margin improvements. Management's revision of FY25 revenue guidance, including the recent Airbase contribution, signals a strong display of confidence. It is anticipated that investors will positively acknowledge the company's resumption of a pattern of exceeding expectations and elevating forecasts.
Here are the latest investment ratings and price targets for $Paylocity (PCTY.US)$ from 9 analysts:
Note:
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