Stifel analyst Brad Reback maintains $Paylocity (PCTY.US)$ with a buy rating, and adjusts the target price from $205 to $220.
According to TipRanks data, the analyst has a success rate of 57.4% and a total average return of 12.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Paylocity (PCTY.US)$'s main analysts recently are as follows:
The company's fiscal Q1 is viewed as a slight positive for its shares. Following a reduction in sales forecasts in the previous quarter, the company reported a 'healthy beat and raise print'.
Following Paylocity's Q1 results, there is a general consensus of appreciation for the favorable conditions leading into the announcement. The company's 'beat and raise' quarter underlines a strong execution of business strategies. The acquisition of Airbase is seen as a strategic move that positions the company well for future growth, and Paylocity has demonstrated commendable discipline in leveraging its underlying margins in preparation for a potentially lower rate environment.
Paylocity's solid first-quarter performance surpassed expectations both in terms of revenue and earnings, primarily due to robust sales execution and enhanced cost management. The organization has also increased its revenue outlook for FY25 to include contributions from Airbase, in addition to surpassing quarterly projections with an additional $1M-$2M for organic growth. However, the forecast for EBITDA was adjusted modestly to take into account the challenges of rate reductions and the dilutive impact of Airbase.
Note:
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