In a report released today, Mayank Tandon from Needham reiterated a Buy rating on SS&C Technologies Holdings (SSNC – Research Report), with a price target of $90.00.
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Mayank Tandon has given his Buy rating due to a combination of factors including SS&C Technologies Holdings’ strong performance in the first quarter, where the company exceeded expectations in both revenue and earnings. The company demonstrated a healthy organic growth rate, particularly driven by the GlobeOp segment, which saw a significant increase.
Despite a more cautious outlook for the second quarter and fiscal year 2025, attributed to economic uncertainties, Tandon sees potential for the stock to appreciate. This optimism is based on expectations of higher organic growth in the latter half of the year, expanding profit margins, and the company’s effective capital allocation strategy. While the target price was adjusted to reflect broader valuation trends in the FinTech sector, the overall outlook remains positive, justifying the Buy rating.
Tandon covers the Technology sector, focusing on stocks such as WNS, Globant SA, and Cognizant. According to TipRanks, Tandon has an average return of -5.2% and a 36.88% success rate on recommended stocks.
In another report released today, Jefferies also reiterated a Buy rating on the stock with a $94.00 price target.
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