Dayforce Inc (NYSE:DAY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Dayforce Inc (NYSE:DAY) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.33.

Several research analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Dayforce in a research report on Thursday, May 2nd. Wells Fargo & Company lowered their target price on Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Mizuho cut their target price on Dayforce from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Citigroup lowered their price target on Dayforce from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Dayforce in a report on Friday, May 17th.

Dayforce Stock Performance

Shares of DAY stock opened at $51.29 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. Dayforce has a one year low of $47.08 and a one year high of $75.53. The stock’s 50-day moving average is $52.63. The company has a market capitalization of $8.10 billion, a PE ratio of 155.42, a price-to-earnings-growth ratio of 3.60 and a beta of 1.27.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). Dayforce had a return on equity of 5.38% and a net margin of 3.30%. The company had revenue of $431.50 million during the quarter, compared to the consensus estimate of $426.15 million. As a group, research analysts forecast that Dayforce will post 0.9 EPS for the current year.

About Dayforce

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.