In a report released today, Daniel Jester from BMO Capital maintained a Buy rating on Paylocity (PCTY – Research Report), with a price target of $226.00.
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
Daniel Jester has given his Buy rating due to a combination of factors that highlight Paylocity’s strategic positioning and growth potential. The company is focused on maintaining long-term consistency in both revenue and profitability, even amidst uncertain macroeconomic conditions. Management’s confidence in their core growth drivers and their plan for normalized margin expansion in the coming fiscal year are key elements supporting this positive outlook.
Additionally, Paylocity’s ongoing investments in product development, artificial intelligence, and the integration of Airbase are expected to yield moderate near-term margin improvements. The company’s recent product launches and differentiation in the broker channel also present opportunities for increased revenue and market share. These factors collectively suggest that Paylocity is well-positioned to achieve its medium-term financial targets, justifying the Buy rating.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $235.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue