Piper Sandler maintains Tyler Tech overweight with $708 target

Published 24/05/2025, 11:46
Piper Sandler maintains Tyler Tech overweight with $708 target

The financial position of Tyler Technologies also appears strong, with the company expected to retire $600 million of convertible debt next year, leading to a debt-free balance sheet. Piper Sandler projects that Tyler Technologies will generate approximately $4 billion in cumulative free cash flow over the next five years, positioning the company for sustained financial health. InvestingPro analysis confirms this robust financial position, showing the company operates with a moderate debt level and maintains strong cash flows sufficient to cover interest payments. The company’s overall financial health score of 2.71 is rated as "GOOD," supported by strong profitability and growth metrics. InvestingPro analysis confirms this robust financial position, showing the company operates with a moderate debt level and maintains strong cash flows sufficient to cover interest payments. The company’s overall financial health score of 2.71 is rated as "GOOD," supported by strong profitability and growth metrics.

The research firm highlighted Tyler Technologies’ early achievements in transitioning to cloud-based operations, which is expected to be a key driver of the company’s growth. According to Piper Sandler, the company’s "Phase 2" cloud operations are set to enhance up-selling and cross-selling opportunities, with the potential to expand from 44,000 software installations to over 100,000 within the same customer footprint. This expansion potential is supported by the company’s solid financial performance, with revenue growing nearly 10% over the last twelve months to $2.19 billion. For deeper insights into Tyler Technologies’ growth metrics and financial health, check out the comprehensive analysis available on InvestingPro.

Additionally, the firm is optimistic about the company’s ability to monetize artificial intelligence (AI), noting that AI is already contributing to the average contract value (ACV) at the customer level. This factor, alongside Tyler Technologies’ prospects for mergers and acquisitions (M&A), is anticipated to further bolster the company’s performance.

The financial position of Tyler Technologies also appears strong, with the company expected to retire $600 million of convertible debt next year, leading to a debt-free balance sheet. Piper Sandler projects that Tyler Technologies will generate approximately $4 billion in cumulative free cash flow over the next five years, positioning the company for sustained financial health.

The firm’s analysis suggests that these strategic initiatives and financial strengths could allow Tyler Technologies’ shares to reach or even exceed $1,000 by the end of the decade, should the company outperform its 2030 targets. Piper Sandler’s current price target reflects confidence in Tyler Technologies’ growth trajectory and its ability to capitalize on market opportunities in the years ahead.

In other recent news, Tyler Technologies Inc (NYSE:TYL). reported better-than-expected earnings for the first quarter of 2025. The company achieved an earnings per share (EPS) of $2.78, surpassing the forecast of $2.55, and revenue reached $565.2 million, exceeding the projected $556.82 million. Tyler Technologies has revised its revenue guidance upward, now anticipating a year-over-year growth of 8%-10%, with total revenue expected between $2.31 billion to $2.35 billion. The company also updated its Non-GAAP EPS guidance to reflect a 16%-19% increase, setting expectations between $11.05 and $11.35.

DA Davidson maintained a Neutral rating on Tyler Technologies, highlighting the company’s first-quarter results as slightly better than expected. Meanwhile, Needham analysts upheld their Buy rating with a price target of $750, expressing confidence in Tyler’s market position and anticipating several substantial contract wins in the latter half of 2025. Tyler Technologies continues to focus on expanding its cloud and AI initiatives, contributing to a 10.3% increase in total revenues compared to the previous year. The company also appointed Andrew Kahl as Chief Client Officer, aiming to enhance service delivery and client experience.

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