JMP Securities analyst Joe Goodwin lowered the firm’s price target on Tyler Technologies to $415 from $465 after its Q4 earnings miss but keeps an Outperform rating on the shares. Tyler is seeing expected pressure on the financial model as it moves through its SaaS transition, but there are reasons to remain positive on the stock, including its strong management team, large market opportunity, dominant competitive position, and "healthy" budgets within its end market, the analyst tells investors in a research note. The firm contends that Tyler Technologies business should inflect beyond 2023.
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Published first on TheFly
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Read More on TYL:
- Tyler Technologies price target lowered to $450 from $468 at Piper Sandler
- Tyler Technologies sees FY23 adjusted EPS $7.50-$7.65, consensus $7.75
- Tyler Technologies reports Q4 adjusted EPS $1.66, consensus $1.75
- Tyler Technologies price target lowered to $375 from $408 at Credit Suisse
- Tyler Technologies helps develop software for Delray Beach, Florida
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