Analyst Jared Levine from TD Cowen maintained a Buy rating on Dayforce Inc and increased the price target to $69.00 from $68.00.
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Jared Levine’s rating is based on several key factors that influence the financial outlook of Dayforce Inc. He has adjusted revenue estimates upwards, primarily due to favorable foreign exchange conditions and increased float revenue. This adjustment reflects a positive expectation for the company’s financial performance in the coming years.
Furthermore, Levine has raised projections for adjusted EBITDA and free cash flow, attributing these increases to anticipated higher revenue and improved operating leverage. His price target for the stock is set at $69, which is based on a valuation model that considers enterprise value to sales and enterprise value to free cash flow ratios. These factors collectively contribute to Levine’s Buy rating for Dayforce Inc.
In another report released on June 30, Needham also maintained a Buy rating on the stock with a $95.00 price target.