Oppenheimer reaffirmed its "Outperform" rating and $450 price target for Tyler Technologies after meeting with management.
The firm expects a significant increase in bookings during the second half of 2024.
Improved visibility into Tyler's cloud migration efforts also supports this positive outlook. This transition is a key factor for future Software-as-a-Service (SaaS) revenue growth.
Oppenheimer noted that underlying demand and the budget environment for Tyler's public sector clients remain consistent.