BofA Securities analyst Michael Funk maintains $Paylocity (PCTY.US)$ with a hold rating, and maintains the target price at $205.
According to TipRanks data, the analyst has a success rate of 38.3% and a total average return of -7.0% 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 was seen as slightly beneficial for its shares, especially after reducing sales expectations in the previous quarter, resulting in a robust outperformance and heightened projections.
The firm has revised its estimates for Paylocity following a stronger than anticipated performance in Q1, along with an enhanced growth projection that spans both ex-float and float revenue sectors.
Paylocity's Q1 financial results exceeded expectations, with sales and demand commentary appearing significantly improved and more consistent compared to recent quarters. The company's operations have regained their customary predictability, achieving a steadier pattern of surpassing and elevating expectations, even amidst challenging market conditions.
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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