BTIG lowered the firm’s price target on Paycor HCM to $20 from $26 but keeps a Buy rating on the shares. The company’s Q4 results topped expectations as growth was better than feared, while the management provided below-consensus FY25 guidance that more effectively resets the bar for the ongoing macro headwinds in the market, the analyst tells investors in a research note. The firm adds that it remains encouraged by the progress of the embedded channel, which is still very early but should at least double in FY25 with even more potential beyond.
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