KeyBanc has revised its price target for Paylocity (PCTY, Financial), lowering it from $250 to $220. This adjustment reflects a broader decline in software valuations. Despite this change, the firm maintains an Overweight rating on the shares, indicating continued confidence in their performance.
As investors brace themselves for the upcoming payroll SaaS earnings reports, a generally cautious sentiment prevails. KeyBanc's recent assessments reveal heightened scrutiny in deal-making among mid-market partners. Nevertheless, the firm finds some reassurance in its survey data from the first half of the year and other recent employment-related economic indicators, which suggest expectations of modest growth in the workforce.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Paylocity Holding Corp (PCTY, Financial) is $232.95 with a high estimate of $270.00 and a low estimate of $190.00. The average target implies an upside of 29.76% from the current price of $179.52. More detailed estimate data can be found on the Paylocity Holding Corp (PCTY) Forecast page.
Based on the consensus recommendation from 20 brokerage firms, Paylocity Holding Corp's (PCTY, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Paylocity Holding Corp (PCTY, Financial) in one year is $280.41, suggesting a upside of 56.2% from the current price of $179.52. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Paylocity Holding Corp (PCTY) Summary page.
