Analyst Ryan MacDonald of Needham maintained a Buy rating on PowerSchool (PWSC – Research Report), retaining the price target of $26.00.
Ryan MacDonald has given his Buy rating due to a combination of factors concerning PowerSchool’s current position and future prospects. The company’s recent engagement at the Needham Technology and Media Conference revealed critical insights, particularly addressing and dispelling concerns raised in a short report. Additionally, discussions with the CFO, Eric Shander, highlighted positive trends for the upcoming 2024 selling season, suggesting a solid revenue outlook.
Moreover, MacDonald’s optimism is further bolstered by the potential of PowerSchool’s GenAI product. The adoption and opportunity presented by this new offering are expected to contribute to the company’s growth. The combination of a clear rebuttal to negative claims, favorable sales forecasts, and innovative product developments have led to the conclusion that PowerSchool’s stock holds promising value for investors, justifying the Buy rating.
In another report released on May 8, Barclays also maintained a Buy rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PWSC in relation to earlier this year.
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PowerSchool (PWSC) Company Description:
PowerSchool Holdings Inc is a provider of cloud-based software to the K-12 education market. Its cloud-based technology platform helps schools and districts efficiently manage state reporting and related compliance, special education, finance, HR, talent, registration, attendance, funding, learning, instruction, grading, college and career readiness, assessments, and analytics in one place. The company earns revenue from subscription offerings, perpetual software licenses, maintenance and support services, and professional services.
