JPMorgan lowered the firm’s price target on Dayforce (DAY) to $68 from $73 and keeps a Neutral rating on the shares. The company reported Q4 results ahead of estimates on revenue but guided Q1 below, partially due to currency, the analyst tells investors in a research note. The firm thinks investors are trying to reconcile the Q4 quarterly beat being more driven by float revenue and non-recurring businesses as Dayforce’s recurring revenue missed due to some discrete items.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio