Tyler Technologies, Inc. (NYSE:TYL) reported better-than-expected first-quarter results and issued upbeat guidance for FY24, after the closing bell on Wednesday.
Tyler Technologies posted quarterly earnings of $2.20 per share, beating market expectations of $2.04 per share. The company’s quarterly sales came in at $512.36 million topping estimates of $507.15 million, according to data from Benzinga Pro.
Tyler Technologies said it sees FY24 earnings of $9.10 to $9.30 per share, versus estimates of $9.02 per share. The company expects revenue of $2.11 billion to $2.14 billion, versus expectations of 2.12 billion.
Tyler Technologies shares gained 9.3% to close at $458.07 on Thursday.
These analysts made changes to their price targets on Tyler Technologies following earnings announcement.
- Oppenheimer increased the price target on Tyler Technologies from $480 to $500.. Oppenheimer analyst Ken Wong maintained an Outperform rating.
- Baird boosted the price target on Tyler Technologies from $500 to $525. Baird analyst Rob Oliver maintained an Outperform rating.
- Needham analyst Joshua Reilly, meanwhile, reiterated Tyler Technologies with a Buy and maintained a $500 price target.
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