Oppenheimer raised the firm’s price target on Tyler Technologies (TYL) to $700 from $625 and keeps an Outperform rating on the shares. The company reported “solid” Q3 results with revenue slightly below consensus, but ahead of internal expectations, and profitability ahead of estimates, the analyst tells investors in a research note. Tyler management also narrowed the top-line outlook and increased its free cash flow margin by 300bps, though its License / Royalties was reduced due to accelerated cloud demand, which implies SaaS and Payments were increased slightly, the firm added.
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
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TYL:
- Closing Bell Movers: Tesla gains 12% as Q3 earnings beat estimates
- Tyler Technologies raises FY24 EPS view to $9.47-$9.62, consensus $9.37
- Tyler Technologies reports Q3 adjusted EPS $2.52, consensus $2.43
- Notable companies reporting after market close
- TYL Earnings Report this Week: Is It a Buy, Ahead of Earnings?