Dayforce price target raised to $80 from $70 at Mizuho

Mizuho analyst Siti Panigrahi raised the firm’s price target on Dayforce to $80 from $70 and keeps an Outperform rating on the shares. The firm says the cloud payroll sector continues to underperform due to lackluster results and concerns about market penetration. It believes worst could be behind us, but is not expecting significant outperformance this quarter given its checks on ongoing macro headwinds. However, Miuzho remains bullish on Dayforce, saying the company offers “robust recurring growth given its strong enterprise pipeline.”