Mizuho Remains Bullish on Paylocity Holding (PCTY) Post Earnings

Paylocity Holding Corporation (NASDAQ:PCTY) is one of the most oversold NASDAQ stocks to invest in. Mizuho reiterated a Buy rating on Paylocity Holding Corporation (NASDAQ:PCTY) on February 10, setting a price target of $150.00. Paylocity Holding Corporation (NASDAQ:PCTY) announced its fiscal Q2 2026 financial results on February 5, with recurring and other revenue coming up to $387.0 million, and reflecting a growth of 11.3% compared to the prior year period. Total revenue for the quarter was $416.1 million, up 10.4% compared to fiscal Q2 2025. The company also reported continued growth in cash flows, with a trailing twelve months net cash provided by operating activities margin of 28.3% and free cash flow margin of 23.6%.

Paylocity Holding Corporation (NASDAQ:PCTY) received several rating updates following the results, including Baird adjusting the price target on the stock to $220 from $245 on February 6 and maintaining an Outperform rating on the shares. It told investors that it updated its model after the results showed outstanding progress on margins and free cash flow. The same day, TD Cowen also adjusted the price target on Paylocity Holding Corporation (NASDAQ:PCTY) to $178 from $188 while maintaining a Buy rating on the shares. The firm stated that the company reported a respectable fiscal Q2 beat and delivered a confident message on moat from AI displacement and depressed valuation, supportive to shares.

Paylocity Holding Corporation (NASDAQ:PCTY) develops and provides cloud-based software solutions, including cloud-based payroll, applications, human capital management, benefits administration, time labor tracking, and talent management.

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Disclosure: None. This article is originally published at Insider Monkey.