Ceridian HCM Holding Inc. (CDAY) PT Raised to $120 at Needham & Company
- World stocks edge back, bond yields, COVID-19 cases rise
- Canadian National (CNI) Plans to Make $30B Topping Bid for Kansas City Southern (KSU) - DJ
- IBM (IBM) Tops Q1 EPS by 14c, Revenue Beats
- Tesla's (TSLA) Musk says data logs from crashed vehicle show Autopilot was not enabled, car did not purchase FSD
- Oil hits $68 on Libya force majeure despite pandemic surge
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Needham & Company analyst Scott Berg raised the price target on Ceridian HCM Holding Inc. (NYSE: CDAY) to $120.00 (from $105.00) while maintaining a Buy rating.
The analyst commented, "Ceridian reported solid 4Q20 financial results with Dayforce recurring revenue growth accelerating from 3Q as the company begins moving past the initial pandemic impact. However, while we expect investors will initially focus on the slippage of several large deals into January, our industry work suggests this was likely just timing related and not a fundamental change to the mid-market or enterprise payroll end markets. Instead, we are a buyer on any weakness in CDAY shares as we are more focused on pipeline commentary suggesting Dayforce revenue growth will accelerate in FY21 and eclipse the 25% level in 2H, nearing pre-COVID levels. Strong initial Wallet adoption remains a significant growth vector not in current estimates keeping us optimistic on the sustainability of the 25% growth level into late 2021 and into 2022."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Johnson & Johnson (JNJ) Tops Q1 EPS by 25c, Updates Guidance
- Temple & Webster Group Ltd (TPW:AU) PT Lowered to AUD11.80 at Canaccord Genuity
- Morgan Stanley Reiterates Overweight Rating on Steel Dynamics (STLD) with Order Backload at Record Highs
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesNeedham & Company, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!