Mark Marcon, an analyst from Robert W. Baird, maintained the Buy rating on Paycor HCM (PYCR – Research Report). The associated price target is $36.00.
Mark Marcon has given Paycor HCM a Buy rating after careful consideration of a range of factors indicating the company’s strong position and future potential. One of the key reasons is Paycor’s well-established presence in the payroll and human capital management (HCM) market, which is underpinned by robust cloud-based solutions. This established market presence suggests a solid foundation for ongoing growth and stability.
Furthermore, the valuation metrics used by Marcon, such as the forward-looking adjusted EBITDA, support a price target that implies a significant upside from the current trading level. Specifically, the twelve-month price target of $36 is based on approximately 27.3 times the firm’s fiscal 2025 estimated adjusted EBITDA, which aligns with the historical enterprise value to next twelve months (EV/NTM) EBITDA multiple. This reflects both the company’s earnings potential and Marcon’s adjustment for the impact of higher interest rates on market multiples.
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Paycor HCM (PYCR) Company Description:
Paycor HCM Inc is a Software-as-a-Service provider of human capital management solutions for small and medium-sized businesses. Its suite of solutions enables organizations to streamline HCM and payroll workflows and achieve regulatory compliance while serving as the single, secure system of record for all employee data.
Read More on PYCR:
- Paycor Announces Date of Second Quarter Fiscal Year 2024 Financial Results
- Paycor HCM downgraded to Hold from Buy at Jefferies
- Paycor HCM announces offering of 5M shares of common stock for holders
- Paycor Announces Offering of Common Stock by Selling Stockholder
- Paycor HCM management to meet with JMP Securities
