Tyler Tech (TYL) PT Raised to $595 at DA Davidson

DA Davidson analyst Peter Heckmann raised the price target on Tyler Tech (NYSE: TYL) to $595.00 (from $575.00) while maintaining a Neutral rating.

The analyst commented, "Tyler reported 4Q results with revenue just a hair above our forecast, but adjusted EBITDA below our forecasts. With results, management introduced initial guidance for fiscal 2025, with the midpoint of revenue guidance 2% below our prior forecast (and 2% below the consensus). The primary driver of lower growth stems from the loss of a contract in Texas. However, the midpoint of Non-GAAP EPS guidance was 1% above our prior forecast (and 2% above the consensus). Following the 4Q update, we have fine-tuned our forecasts. We are maintaining our NEUTRAL rating on Tyler, but raising our price target to $595 (from $575)."

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