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Investing.com - Jefferies has reduced its price target on Dayforce (NYSE:DAY) to $60.00 from $65.00 while maintaining a Hold rating on the stock. The stock, currently trading at $53.40, has declined nearly 10% in the past week, with analyst targets ranging from $47 to $95.
The human capital management software company delivered Dayforce Core constant currency growth of 13.5%, slightly above the consensus estimate of 13.3%, and exceeded EBITDA expectations by 4%.
Management highlighted strong bookings, which increased 40% year-to-date, and announced that its largest-ever client with over 300,000 seats had successfully gone live on the platform.
Dayforce reiterated its fiscal year 2025 Dayforce Core constant currency growth guidance, which implies acceleration in the second half of the year, while maintaining its EBITDA margin forecast and raising its free cash flow margin outlook based on operational improvements.
Despite strong sales momentum and healthy upsell trends that suggest positive growth for Q4 2025 and fiscal year 2026, Jefferies indicated that investors remain cautious following Q4 2024 results and want to see concrete evidence of acceleration before becoming more positive on the stock.
In other recent news, Dayforce Inc reported impressive financial results for the second quarter of 2025. The company achieved earnings per share (EPS) of $0.61, which is significantly higher than the anticipated $0.53. Additionally, Dayforce’s revenue reached $464.7 million, surpassing the forecasted $457.93 million. These figures highlight the company’s strong financial performance for the quarter. Despite these positive results, it’s notable that the company’s stock experienced a decline in pre-market trading. This development comes as investors assess the implications of the earnings report. The financial community will be watching closely to see how these results impact Dayforce’s future performance.
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