Paylocity Holding (PCTY) PT Raised to $235 at TD Cowen

TD Cowen analyst Jared Levine raised the price target on Paylocity Holding (NASDAQ: PCTY) to $235.00 (from $208.00) while maintaining a Buy rating.

The analyst said: "We are updating estimates to account for latest FF rate expectations and for latest thoughts ahead of its upcoming 2Q print. We raise PT to $235 based on 34.5x CY26E EV/ FCF. We raised our revenue estimates primarily for float revenue due to updated expectations for FF rate. We now model ex float growth of 12.3%/10.6%/11.1% for FY25-FY27. Adj EBITDA and FCF estimates increased primarily due to higher revenue. We now model a FCF margin of 20.0%/20.5%/21.2% for FY25-FY27. PT raised to $235 based on 34.5x CY26E EV/FCF."

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• MaxLinear (MXL) PT Raised to $105 at Stifel
• Smith-Midland receives Nasdaq notice for late quarterly filing