Is Paylocity Holding Corporation (NASDAQ:PCTY) Potentially Undervalued?
Is Paylocity Holding Corporation (NASDAQ:PCTY) Potentially Undervalued?
Paylocity Holding Corporation (NASDAQ:PCTY), is not the largest company out there, but it saw significant share price movement during recent months on the NASDAQGS, rising to highs of US$173 and falling to the lows of US$134. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether Paylocity Holding's current trading price of US$136 reflective of the actual value of the mid-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let's take a look at Paylocity Holding's outlook and value based on the most recent financial data to see if there are any catalysts for a price change.
Paylocity Holding Corporation (NASDAQ:PCTY)雖然不是最大的公司，但最近幾個月在納斯達克上看到了顯著的股價波動，上漲至173美元，下跌至134美元的低點。股價波動可能爲投資者提供更好的進入股票市場的機會，有可能以更低的價格買入股票。現在的問題是，Paylocity Holding目前的美元交易價格136美元是否反映了這個中等市值股票的實際價值？還是目前被低估了，提供了我們買進的機會？讓我們看看Paylocity Holding基於最新財務數據的展望和價值，看看是否有價格變化的催化劑。
Is Paylocity Holding Still Cheap?
Paylocity Holding仍然便宜嗎？
Paylocity Holding appears to be expensive according to our price multiple model, which makes a comparison between the company's price-to-earnings ratio and the industry average. We've used the price-to-earnings ratio in this instance because there's not enough visibility to forecast its cash flows. The stock's ratio of 39.31x is currently well-above the industry average of 24.8x, meaning that it is trading at a more expensive price relative to its peers. Furthermore, Paylocity Holding's share price also seems relatively stable compared to the rest of the market, as indicated by its low beta. If you believe the share price should eventually reach levels around its industry peers, a low beta could suggest it is unlikely to rapidly do so anytime soon, and once it's there, it may be hard to fall back down into an attractive buying range.
根據我們的價格多重模型，Paylocity Holding看起來很昂貴，該模型比較公司的市盈率和行業平均值。我們在這種情況下使用市盈率，因爲沒有足夠的可見性來預測其現金流。目前該股的市盈率爲39.31倍，遠高於行業平均值24.8倍，這意味着相對於同行而言，股票的交易價格更昂貴。此外，Paylocity Holding的股價與市場其他股票相比也相對穩定，這表明它的貝塔係數較低。如果您認爲股價最終應達到行業同行水平，低貝塔係數可能意味着它不太可能很快實現，並且一旦到達該水平，很難再回落到一種有吸引力的購買區間。
What does the future of Paylocity Holding look like?
Paylocity Holding的未來展望如何？
Future outlook is an important aspect when you're looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it's the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. Paylocity Holding's earnings over the next few years are expected to increase by 65%, indicating a highly optimistic future ahead. This should lead to more robust cash flows, feeding into a higher share value.
未來展望是觀察股票買賣的一大重要因素，尤其是對於期望獲得投資組合增長的投資者。雖然價值投資者會認爲相對於價格的內在價值更爲重要，但更具吸引力的投資論點是在低價格下具有高增長潛力。未來幾年Paylocity Holding的收益預計將增長65％，這表明未來前景非常樂觀。這應該會導致更強大的現金流，進而反映在更高的股票價值上。
What This Means For You
這對您意味着什麼？
Are you a shareholder? It seems like the market has well and truly priced in PCTY's positive outlook, with shares trading above industry price multiples. However, this brings up another question – is now the right time to sell? If you believe PCTY should trade below its current price, selling high and buying it back up again when its price falls towards the industry PE ratio can be profitable. But before you make this decision, take a look at whether its fundamentals have changed.
您是股東嗎？市場似乎已經充分地反映了PCTY的積極前景，股票的交易價格高於行業價格倍數。然而，這帶來了另一個問題——現在是賣出的正確時機嗎？如果您認爲PCTY的交易價格應該低於當前價格，那麼在其價格下跌到行業市盈率比率附近時以高價賣出，然後再買回，可能會很有利可圖。但在做出這個決定之前，看看它的基本面是否發生了變化。
Are you a potential investor? If you've been keeping tabs on PCTY for some time, now may not be the best time to enter into the stock. The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for PCTY, which means it's worth diving deeper into other factors in order to take advantage of the next price drop.
您是潛在投資者嗎？如果您一直關注PCTY已經一段時間，現在可能不是進入股票市場的最佳時機。股票已經超過了同行，這意味着可能沒有更多的錯價空間。然而，積極的前景仍然鼓舞人心，這意味着有必要深入研究其他因素，以利用下一個價格下跌。
Since timing is quite important when it comes to individual stock picking, it's worth taking a look at what those latest analysts forecasts are. Luckily, you can check out what analysts are forecasting by clicking here.
由於在個股選擇方面，時間非常重要，因此值得看看最新的分析師預測。幸運的是，您可以單擊此處查看分析師的預測。
If you are no longer interested in Paylocity Holding, you can use our free platform to see our list of over 50 other stocks with a high growth potential.
如果您對Paylocity Holding不再感興趣，您可以使用我們的免費平台查看我們超過50個其他具有高增長潛力的股票列表。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者，發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論，只使用公正的方法論，我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議，也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意，我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋？關於內容有所顧慮？直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。
譯文內容由第三人軟體翻譯。