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AVLR - Avalara Inc News Story

$156.94 1.2  0.7%

Last Trade - 26/02/21

Sector
Technology
Size
Large Cap
Market Cap £9.53bn
Enterprise Value £9.04bn
Revenue £359.3m
Position in Universe 763rd / 6715

BUZZ-Paycom: Citigroup raises PT to Street high on growth potential

Tue 22nd December, 2020 1:38pm
** Citigroup raises payroll and HR software maker's  PAYC.N 
 PT to Street high of $513 from $457, which implies 15.1% upside
to stock's last close
    ** Says HCM (human capital management) provider PAYC should
see improving sales growth in H2 2021 from its new business and
macro recovery
    ** Sees continued strong profitability and also adds that
PAYC has seen positive momentum on bookings at record levels and
above the pre-pandemic pace, which sets the stage to a return to
20% growth
    ** "Q4 and most of Q1 should still feel the headwinds from
employment cuts, but we believe the outlook improves as the year
progresses" - Citi
    ** Citi says PAYC and Avalara Inc  AVLR.N  are its top-picks
entering 2021
    ** Average rating of 14 analysts on PAYC is "buy" and median
PT is $433.50 - Refinitiv data
    ** Up to last close, PAYC has risen ~68.3% YTD

 (Reporting By Geetha Panchaksharam)
 ((geetha.panchaksharam@thomsonreuters.com))
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