Tyler Technologies price target raised to $480 from $450 at Oppenheimer

Oppenheimer raised the firm’s price target on Tyler Technologies to $480 from $450 and keeps an Outperform rating on the shares. Tyler reported solid Q3 results, highlighted by a 290bps gross margin beat that resulted in a 6c raise to FY23 EPS at the midpoint and narrowed revenue guidance, the analyst tells investors in a research note. Tyler represents a unique combination of revenue resiliency, growth opportunities, and margin expansion, the firm says.