UPDATE: Wolfe Research Starts Paylocity Holding (PCTY) at Peerperform
- S&P 500 flat as telecom weakness offsets strong retail earnings
- Walmart (WMT) Gains After Crushing Estimates, Analysts Bulled Up on 'Strong Q1 Results'
- Home Depot (HD) Leaps After Topping Q1 Estimates, Analyst Positive
- Stride (LRN) Targeted in Potential Takeover by Pearsons (PSO) - Source
- Tesla (TSLA) Stuck as It Can't Deliver 10,000+ Cars From Its Fremont Factory Amid Supply Chain Issues - Report
Wolfe Research analyst Alex Zukin initiates coverage on Paylocity Holding (NASDAQ: PCTY) with a Peerperform rating and a price target of $200.00.
The analyst comments "We see three primary catalysts for Paylocity’s business in 2021 (FY21/22). First is the continued macroeconomic recovery, which should support revenue growth through both employment tailwinds and better revenue from float. Second is upside to “per employee per year” (PEPY) fees, as well as retention rates, driven by a broadened product portfolio including new functionality such as collaboration (Samepage acquisition) and video (VidGrid acquisition). Finally, the third key catalyst we see is a reacceleration in sales rep hiring after a slower year due to COVID."
Shares of Paylocity Holding closed at $192.35 yesterday.
You May Also Be Interested In
- H&R REIT (HR-U:CN) PT Raised to Cdn$17.50 at TD Securities
- Calbee (2229:JP) (CLBEY) PT Lowered to JPY3,000 at Goldman Sachs
- H&R REIT (HR-U:CN) PT Raised to Cdn$18 at National Bank Financial
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesDefinitive Agreement
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!