Scotiabank has begun tracking Paylocity (PCTY, Financial) stock, branding it with a Sector Perform rating and setting a price target of $190. The firm holds a cautiously optimistic outlook on Paylocity's anticipated fiscal third-quarter earnings report, suggesting that the company may once again surpass expectations and increase its guidance.
Despite this optimistic view on the upcoming earnings, Scotiabank notes a potential deceleration in Paylocity's organic recurring revenue growth, which might taper to low double-digit figures by the conclusion of fiscal year 2025. This insight underscores a mixed but overall stable forecast for the company's financial trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Paylocity Holding Corp (PCTY, Financial) is $238.51 with a high estimate of $270.00 and a low estimate of $195.00. The average target implies an upside of 27.71% from the current price of $186.75. More detailed estimate data can be found on the Paylocity Holding Corp (PCTY) Forecast page.
Based on the consensus recommendation from 19 brokerage firms, Paylocity Holding Corp's (PCTY, Financial) average brokerage recommendation is currently 1.8, 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 $280.72, suggesting a upside of 50.32% from the current price of $186.75. 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.
