2024-07-26 11:04:06 ET
Summary
- TYL remains a buy rating due to strong execution and subscription revenue growth, driving margin expansion.
- 2Q24 results show solid performance with revenue beating estimates, SaaS growth at 23%, and EBIT margin expansion.
- Cloud transition is on track with strong SaaS revenue growth, customer conversions, and positive margin inflection, supporting a higher valuation.
Investment summary
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Tyler Technologies: Cloud Transition Continues To Drive Growth And Margin Expansion