PowerSchool price target raised to $26 from $24 at Barclays

Barclays raised the firm’s price target on PowerSchool to $26 from $24 and keeps an Overweight rating on the shares. The company reported 10% annual recurring revenue growth in the seasonally strongest quarter for K-12 spending, with more big deals in the first half of 2023 versus 2022, the analyst tells investors in a research note. The firm thinks PowerSchool “is a steady-eddy double digit grower with margin expansion.”