Jared Levine, an analyst from TD Cowen, reiterated the Buy rating on Paylocity (PCTY – Research Report). The associated price target was raised to $227.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Jared Levine has given his Buy rating due to a combination of factors that highlight Paylocity’s strong financial performance and strategic initiatives. The company’s recent financial results exceeded expectations, with a notable increase in both revenue and margins, driven by enhanced sales productivity and operational efficiencies. Additionally, Paylocity’s valuation remains attractive, with a compelling multiple of 27 times the estimated enterprise value to free cash flow for 2026, aligning with its Rule of 30 status.
Furthermore, Levine raised the price target for Paylocity’s stock to $227, based on a higher multiple of 32 times the estimated enterprise value to free cash flow for 2026. The company’s proactive measures, such as share repurchases and debt repayment, demonstrate strong financial management and flexibility. Despite some macroeconomic uncertainties, Paylocity’s stable conditions and negligible impact on its guidance further support the positive outlook, reinforcing Levine’s Buy recommendation.
In another report released on April 29, JMP Securities also maintained a Buy rating on the stock with a $270.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue