William Blair analyst Jake Roberge has maintained their bullish stance on DAY stock, giving a Buy rating today.
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Jake Roberge has given his Buy rating due to a combination of factors that highlight Dayforce Inc’s strong position and growth potential. Despite some challenges in recurring revenue, Dayforce reported a solid fourth-quarter performance with total revenue surpassing expectations. The company faced some hurdles with recurring revenue due to employment volumes and contract adjustments, yet it remains optimistic about future growth.
Key drivers for the positive outlook include robust sales momentum and an improving demand environment. Dayforce has experienced a resurgence in sales cycles, leading to faster purchasing decisions and a strong pipeline as it approaches 2025. The full suite adoption rate is notable, with a significant portion of new bookings choosing comprehensive solutions. Additionally, the company’s new AI solutions have been well-received, demonstrating the platform’s appeal and the broader trend of customers consolidating vendors in the HCM space.
In another report released today, Needham also maintained a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DAY in relation to earlier this year.