Tyler Technologies initiated with a Neutral at Goldman Sachs

Goldman Sachs analyst Gabriela Borges initiated coverage of Tyler Technologies with a Neutral rating and $322 price target. The analyst views Tyler as well positioned to deliver on consistent 10% revenue growth over the long term, given a "well-defined runway to benefit from technology adoption and share gain in government applications." However, Borges looks for visibility into the health of the government end market, saying budgets could fade post stimulus, as well as Tyler’s longer-term financial profile post the transition to cloud.