In a report released today, Jared Levine from TD Cowen maintained a Buy rating on Paylocity, with a price target of $192.00.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Jared Levine’s rating is based on a combination of factors including the anticipation of future financial performance and adjustments for recent federal funds rate expectations. The analyst has made minor modifications to the revenue estimates, particularly concerning float revenue, which suggests confidence in the company’s ability to maintain or improve its financial health.
Additionally, the price target has been set at $192, reflecting a valuation of 26 times the estimated enterprise value to free cash flow for the calendar year 2026. This valuation implies a positive outlook for Paylocity’s growth potential and financial stability, supporting the Buy rating.
According to TipRanks, Levine is an analyst with an average return of -3.8% and a 37.14% success rate. Levine covers the Technology sector, focusing on stocks such as Paycom, Dayforce Inc, and Paylocity.