PowerSchool price target raised to $28 from $26 at Barclays

Barclays analyst Saket Kalia raised the firm’s price target on PowerSchool to $28 from $26 and keeps an Overweight rating on the shares. The company beat Q4 net new annual recurring revenue, driving double-digit ARR base growth, which underpins double-digit revenue growth in 2023, the analyst tells investors in a research note. The Q1 revenue guide is lower because of services timing, but this is temporary and will catch up, says the firm.