Deutsche Bank downgraded Dayforce (DAY) to Hold from Buy with a price target of $80, down from $85, in a research note titled ‘Rotating Preferences in Back Office Apps.’ The firm said it remains constructive on the secular growth opportunity in Back Office applications, but sees it being challenged this year relative to other areas of software. While the firm continues to appreciate Dayforce’s execution and leadershhip, the firm downgraded the shares primarily on valuation as it is the most expensive payroll name in the firm’s coverage.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DAY:
- Dayforce downgraded to Hold from Buy at Deutsche Bank
- Dayforce price target raised to $90 from $82 at Stifel
- Dayforce announces two major milestones in Dayforce experience
- Dayforce price target raised to $84 from $80 at Barclays
- Workday initiated, Kraft Heinz downgraded: Wall Street’s top analyst calls