William Blair analyst Jake Roberge has maintained their bullish stance on DAY stock, giving a Buy rating today.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Jake Roberge has given his Buy rating due to a combination of factors, primarily highlighting Dayforce Inc’s impressive second-quarter performance that exceeded expectations in key areas. The company demonstrated significant bookings growth of over 40% year-to-date and achieved an EBITDA margin expansion of more than 400 basis points compared to the previous year. This growth is attributed to Dayforce’s strategic focus on deals where it has a competitive advantage, particularly in front-line-centric businesses, and a robust demand environment.
Additionally, Jake noted the strong traction Dayforce is experiencing with its full-suite offerings, with a high percentage of new bookings adopting the complete suite. The demand for Dayforce’s AI solutions is also noteworthy, with a significant portion of new deals incorporating AI features. Furthermore, the ongoing partnership with the Canadian government as a preferred HR and Payroll vendor and the onboarding of a major client with a large employee base further underscore the positive momentum in Dayforce’s business, supporting the Buy rating.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $67.00 price target.