Tyler Technologies price target raised to $625 from $550 at Oppenheimer

Oppenheimer raised the firm’s price target on Tyler Technologies to $625 from $550 and keeps an Outperform rating on the shares. Tyler reported a solid Q2, raised the top-line outlook for a second straight quarter and increased its free cash flow margin outlook by a point, while FY24 revenue guidance was moved up by $10M on a stronger transaction growth outlook, the analyst tells investors in a research note. Oppenheimer remains positive on Tyler’s execution on top- and bottom-line initiatives buoyed by a favorable public sector demand backdrop.