PowerSchool upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs upgraded PowerSchool to Buy from Neutral with a price target of $24, up from $20. The analyst views the resiliency of the government end market as "particularly attractive" over the next 12 months, given ongoing macro volatility and a "less predictable" fundamental outlook in enterprise software. The firm expects the stock’s outperformance to be driven by PowerSchool’s technology leadership in education technology, continued innovation to help customers better leverage data and analytics, and its international expansion, which it believes has risen as a strategic priority into 2023.