NCR Voyix: Strong Performance and Growth Potential Justify Buy Rating Despite Market Adjustments

In a report released today, Mayank Tandon from Needham reiterated a Buy rating on NCR Voyix (VYX – Research Report), with a price target of $15.00.

Mayank Tandon has given his Buy rating due to a combination of factors that highlight NCR Voyix’s strong performance and potential for growth. The company reported solid fourth-quarter results, demonstrating resilience despite challenges from recent contract terminations and hardware refresh cycles. A key highlight was the encouraging annual recurring revenue (ARR) trends, which saw a 5% year-over-year increase, driven by growth in both the retail and restaurant segments. This growth is attributed to the successful addition of new clients and the transition of existing customers to a cloud-based platform, which is effectively scaling active sites.
Furthermore, the fiscal year 2025 outlook remains robust, although it now accounts for gross hardware revenue due to delays in the Ennoconn ODM agreement. Despite these adjustments, the valuation of NCR Voyix is considered attractive, trading at approximately 5.5 times the estimated EBITDA for fiscal year 2026. This discounted valuation, combined with the company’s positive growth trajectory, supports the Buy rating, even as the target price is adjusted to $15 to align with broader market valuations.

According to TipRanks, Tandon is an analyst with an average return of -1.8% and a 39.68% success rate. Tandon covers the Technology sector, focusing on stocks such as Euronet Worldwide, Globant SA, and Endava.