Analyst Joshua Reilly of Needham maintained a Buy rating on Tyler Technologies, retaining the price target of $750.00.
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
Joshua Reilly has given his Buy rating due to a combination of factors influencing Tyler Technologies’ performance. The company reported strong second-quarter results, with revenue surpassing expectations in most categories, despite a slight underperformance in software services. This positive performance is attributed to progress in bookings, migrations, and new SaaS annual recurring revenue (ARR), even though the year began slowly due to macroeconomic uncertainties.
Reilly anticipates that Tyler Technologies will continue to build its pipeline, with increased conversions expected in the latter half of 2025 as economic conditions stabilize and cloud migrations gain momentum. Additionally, the recent acquisition of Emergency Networking is projected to bolster Tyler’s success rates in the public safety sector, enhancing its overall market position. These factors collectively support the Buy rating, indicating confidence in Tyler Technologies’ growth trajectory and strategic initiatives.
According to TipRanks, Reilly is a 3-star analyst with an average return of 2.6% and a 45.31% success rate. Reilly covers the Technology sector, focusing on stocks such as Bandwidth, Asure, and Audiocodes.