These Analysts Slash Their Forecasts On Paycor HCM Following Q4 Results

Author: Avi Kapoor | August 15, 2024 08:51am

Paycor HCM, Inc. (NASDAQ:PYCR) reported better-than-expected fourth-quarter financial results on Wednesday.

Paycor HCM reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of 9 cents per share. The company reported quarterly sales of $164.800 million which beat the analyst consensus estimate of $161.172 million.

“Paycor delivered revenue growth of 18% for the quarter and 19% for the year, propelled by strong execution against our strategic growth initiatives to add employees and expand PEPM,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “We continued winning market share by delivering substantial value through our robust, modern HCM solution that powers people and performance.”

Paycor said it sees first-quarter revenue between $161 million to $163 million and expects FY25 revenue between $722 million to $729 million.

Paycor HCM shares gained 2.7% to close at $12.63 on Wednesday.

These analysts made changes to their price targets on Paycor HCM following earnings announcement.

• Needham analyst Scott Berg maintained Paycor HCM with a Buy and lowered the price target from $42 to $20.
• BTIG analyst Matt VanVliet maintained Paycor HCM with a Buy and cut the price target from $26 to $20.
• Stifel analyst Brad Reback maintained the stock with a Buy and lowered the price target from $22 to $19.
• JP Morgan analyst Mark Murphy maintained Paycor HCM with a Neutral and lowered the price target from $19 to $17.

Considering buying PYCR stock? Here’s what analysts think:

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Posted In: PYCR