Recent updates indicate a significant upswing for Tyler Technologies (TYL). Their Q3 2024 results showed an impressive performance, beating expectations with a report of an EPS surpassing estimates at $1.74 and strong SaaS growth. Albeit a revenue miss at $543.3 million, their stock has nonetheless soared to an all-time high of $607.75. Multiple entities have revised upwards their price target for TYL, including Oppenheimer and Truist Financial setting it at $700, indicating clear market confidence.
TYL’s conversion to a cloud-based SaaS provider has been highlighted as a major factor in their success, resulting in substantial revenue growth. The company’s full-year outlook has been lifted due to a surge in IT demand driven by a shift to the cloud. Their commitment to sustainability has also been acknowledged with their inclusion in Newsweek’s America’s Greenest Companies 2025 List. Their recent product launch, adoption of court case management solution by Arizona’s Largest Limited Jurisdiction Court and the Commonwealth of Kentucky, further underscores their significant market impact.
Tyler Technologies TYL News Analytics from Wed, 24 Apr 2024 07:00:00 GMT to Sat, 26 Oct 2024 13:43:54 GMT - Rating 8 - Innovation 7 - Information 9 - Rumor 3
