Dayforce initiated with an Overweight at KeyBanc

KeyBanc last night initiated coverage of Dayforce with an Overweight rating and $70 price target. The analyst believes Dayforce is well positioned to continue driving share gains in human capital management against legacy and point-solution providers in its core mid-market segment, as well as in enterprise as it continues to strengthen its international capabilities. Additionally, the firm sees an “interesting growth opportunity” from Wallet, as it thinks the business scaling to $100M and driving over two points to total revenue growth annually in the near-term.