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Investing.com - DA Davidson lowered its price target on Tyler Tech (NYSE:TYL) to $540.00 from $560.00 on Friday, while maintaining a Neutral rating on the stock. The current price of $475.94 sits near its 52-week low of $450, with Tyler down over 17% year-to-date despite maintaining a "GOOD" overall financial health score according to InvestingPro.
The price target reduction follows Tyler Tech’s third-quarter results, which showed revenue and adjusted EBITDA within 1% of the firm’s forecasts. The company has maintained 10.7% revenue growth over the last twelve months.
Tyler Tech management fine-tuned its 2025 guidance after the results, though DA Davidson noted these changes were not material.
The research firm has adjusted its forecasts for Tyler Tech, trimming 2026 and 2027 total revenue forecasts by approximately 1% each.
DA Davidson also reduced its adjusted EBITDA forecasts for those years by slightly more than 1% each, leading to the $20 reduction in price target while maintaining its Neutral stance on the stock.
In other recent news, Tyler Technologies reported its third-quarter 2025 financial results, which exceeded expectations. The company achieved earnings per share (EPS) of $2.97, surpassing the forecast of $2.86, and reported revenue of $595.9 million, slightly above the anticipated $594.32 million. This revenue figure also marks a 10% increase year-over-year. Following these results, Tyler Technologies adjusted its revenue guidance, raising the lower end to a new range of $2.335 billion to $2.360 billion. Non-GAAP EPS guidance was also increased by $0.10 at the midpoint, now ranging from $11.30 to $11.50.
Analyst firms have reacted to these developments, with Evercore ISI lowering its price target for Tyler Technologies to $575 while maintaining an "In Line" rating. In contrast, Citizens reiterated its Market Outperform rating and maintained a $700 price target. These updates highlight the varied perspectives among analysts regarding Tyler Technologies’ future performance.
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