Analyst Consensus ?
ConsensusBuy35 ratings
Bullish2571.4%
Neutral1028.6%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Tyler Technologies, Inc. · TYL · FY2025 Q1 · Calendar Q2 2025
Tyler Technologies: SaaS growth and cloud migration remain central
The supplied analysis supports a constructive but qualified view of Tyler Technologies' growth trajectory: SaaS expansion, cloud migration, payments activity, and cross-sell opportunities were positive signals, while bookings timing and public-sector funding create uncertainty. The evidence supports monitoring execution rather than assuming the trajectory is assured.
Reported Before market openNYSETechnology
$14.78B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.55
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $556.4M
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.0%
Event window
SPY move
+1.5%
Same window
Abnormal move
-0.6%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
-0.4%
Up to 20 sessions
TYLSPY benchmark
Ask FN2 about TYL FY2025 Q1
Transcript, numbers and history already loaded
What drove TYL's +1.0% move after FY2025 Q1 earnings?What changed in TYL's guidance and outlook in FY2025 Q1?Give me the bull and bear case for TYL after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior-quarter analysis, the supplied Q1 analysis showed continued SaaS and recurring-revenue momentum, a wider non-GAAP operating margin, and robust payments activity. Management kept FY2025 guidance unchanged and emphasized cloud migrations, AI-driven budgeting, and state-level sales expansion; concerns remained around bookings timing, procurement delays, and funding exposure.
Guidance delta
Maintained; FY2025 guidance remained unchanged in the supplied analysis.
Key takeaways
- Management described Q1 revenue growth of 10.3% year over year, with SaaS revenue up 21%.
- Non-GAAP operating margin expanded 300 basis points as mix shifted toward SaaS.
- Payments transaction volumes and fee-rate increases supported growth, while cross-sell and state-level sales expansion remain planned drivers.
- Management maintained FY2025 guidance, but bookings timing, procurement delays, and public-sector funding remain watch items.
Management priorities
- Accelerate cloud-first migrations
- Expand state-level sales coverage and cross-sell opportunities
- Develop AI-driven budgeting solutions and showcase the AI strategy at Tyler Connect 2025
- Improve client experience through the Chief Client Officer role
- Continue expanding payments offerings
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Miss
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Analyst 52W Price Targets
$360.87Current
$340Low
$465.75Average
$700High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Equal Weight | Upgrade | Oct 12, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | Oct 8, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Sep 28, 2026 |
| BTIG | Buy | Buy | Maintain | Sep 24, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 27, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jun 23, 2026 |
| DA Davidson | Buy | Buy | Maintain | Jun 10, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jun 10, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | May 1, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | May 1, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Apr 28, 2026 |
| Stifel | Buy | Buy | Maintain | Feb 13, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Feb 13, 2026 |
| Needham | Buy | Buy | Maintain | Feb 13, 2026 |
| Baird | Outperform | Outperform | Maintain | Apr 25, 2025 |
| Truist Securities | Buy | Buy | Maintain | Feb 14, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 25, 2024 |
| Loop Capital | Buy | Buy | Maintain | May 21, 2024 |
| Credit Suisse | Neutral | Neutral | Maintain | May 1, 2023 |
| Wolfe Research | Outperform | Outperform | Maintain | Apr 28, 2023 |
| Northcoast Research | Buy | Neutral | Upgrade | Mar 11, 2021 |
| RBC Capital | Outperform | Outperform | Maintain | Jun 18, 2020 |
| Benchmark | Buy | Buy | Maintain | Aug 2, 2019 |
| B. Riley Securities | Neutral | Neutral | Maintain | Jul 30, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Jul 30, 2018 |
| KeyBanc | Overweight | Downgrade | Oct 17, 2017 | |
| Citigroup | Buy | Buy | Maintain | Sep 22, 2017 |
| PiperJaffray | Overweight | Overweight | Maintain | Jul 26, 2016 |
| Pacific Crest | Overweight | Overweight | Maintain | Jun 20, 2016 |
| Maxim Group | Buy | Buy | Maintain | Apr 28, 2016 |
| Avondale Partners | Perform | Market Perform | Maintain | Apr 14, 2016 |
| Dougherty & Co. | Neutral | Buy | Downgrade | May 30, 2014 |
| Dougherty | Neutral | Buy | Downgrade | May 30, 2014 |
| Sidoti & Co. | Neutral | Buy | Downgrade | Jul 25, 2013 |
| Thinkequity | Buy | Buy | Maintain | Oct 2, 2012 |
| Northland Securities | Outperform | Outperform | Maintain | Sep 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $360.87. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $400 | $329.55 | +10.8% | Oct 12, 2026 |
| Goldman Sachs | Analyst unavailable | $345 | $332.34 | -4.4% | Oct 8, 2026 |
| Piper Sandler | Analyst unavailable | $450 | $325.57 | +24.7% | Sep 28, 2026 |
| UBS | Analyst unavailable | $395 | $309.6 | +9.5% | Aug 1, 2026 |
| Guggenheim | Analyst unavailable | $440 | $284.32 | +21.9% | Jul 22, 2026 |
| Stifel Nicolaus | Parker Lane | $400 | $308.92 | +10.8% | Jun 10, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $340 | $308.92 | -5.8% | Jun 10, 2026 |
| Barclays | Saket Kalia | $425 | $308.92 | +17.8% | Jun 10, 2026 |
| Truist Financial | Terry Tillman | $440 | $339.11 | +21.9% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $455 | $339.56 | +26.1% | May 1, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $360 | $338.32 | -0.2% | May 1, 2026 |
| Barclays | Analyst unavailable | $420 | $341.14 | +16.4% | May 1, 2026 |
| BTIG | Analyst unavailable | $420 | $316.65 | +16.4% | Apr 10, 2026 |
| Goldman Sachs | Analyst unavailable | $420 | $303.71 | +16.4% | Feb 13, 2026 |
| Robert W. Baird | Analyst unavailable | $440 | $305.46 | +21.9% | Feb 13, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $325 | $304.14 | -9.9% | Feb 13, 2026 |
| Oppenheimer | Analyst unavailable | $450 | $300.14 | +24.7% | Feb 13, 2026 |
| Piper Sandler | Clarke Jeffries | $543 | $287.04 | +50.5% | Feb 13, 2026 |
| Barclays | Saket Kalia | $410 | $287.04 | +13.6% | Feb 13, 2026 |
| D.A. Davidson | Analyst unavailable | $460 | $360.51 | +27.5% | Feb 11, 2026 |
| BTIG | Analyst unavailable | $470 | $348.35 | +30.2% | Feb 9, 2026 |
| Oppenheimer | Ken Wong | $510 | $440.58 | +41.3% | Jan 23, 2026 |
| Piper Sandler | Clarke Jeffries | $671 | $446.46 | +85.9% | Jan 13, 2026 |
| Goldman Sachs | Analyst unavailable | $560 | $446.46 | +55.2% | Jan 13, 2026 |
| Wells Fargo | Michael Turrin | $470 | $448.23 | +30.2% | Jan 8, 2026 |
| Stifel Nicolaus | Analyst unavailable | $550 | $448.23 | +52.4% | Jan 7, 2026 |
| BTIG | Analyst unavailable | $560 | $450.11 | +55.2% | Dec 16, 2025 |
| D.A. Davidson | Peter Heckmann | $510 | $459.51 | +41.3% | Dec 9, 2025 |
| D.A. Davidson | Peter Heckmann | $540 | $481.69 | +49.6% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $660 | $478.08 | +82.9% | Oct 31, 2025 |
| Truist Financial | Terry Tillman | $675 | $476.5 | +87.0% | Oct 31, 2025 |
| Oppenheimer | Ken Wong | $600 | $478.08 | +66.3% | Oct 30, 2025 |
| D.A. Davidson | Analyst unavailable | $560 | $504.04 | +55.2% | Oct 10, 2025 |
| D.A. Davidson | Analyst unavailable | $585 | $608.68 | +62.1% | Aug 5, 2025 |
| Cantor Fitzgerald | Matthew VanVliet | $600 | $574.01 | +66.3% | Jun 3, 2025 |
| Robert W. Baird | Analyst unavailable | $700 | $524.64 | +94.0% | Apr 25, 2025 |
| Barclays | Saket Kalia | $695 | $524.64 | +92.6% | Apr 25, 2025 |
| Wells Fargo | Michael Turrin | $615 | $563.54 | +70.4% | Jan 7, 2025 |
| Needham | Scott Berg | $700 | $586.77 | +94.0% | Oct 22, 2024 |
| D.A. Davidson | Peter Heckmann | $550 | $587.38 | +52.4% | Oct 17, 2024 |
| Truist Financial | Terry Tillman | $600 | $578.68 | +66.3% | Jul 26, 2024 |
| Piper Sandler | Clarke Jeffries | $625 | $564.34 | +73.2% | Jul 26, 2024 |
| Oppenheimer | Ken Wong | $625 | $564.34 | +73.2% | Jul 26, 2024 |
| D.A. Davidson | Peter Heckmann | $456 | $529.09 | +26.4% | Jul 22, 2024 |
| Truist Financial | Terry Tillman | $560 | $494.5 | +55.2% | May 23, 2024 |
| BTIG | Matthew VanVliet | $550 | $495.98 | +52.4% | May 22, 2024 |
| Wells Fargo | Michael Turrin | $550 | $495.98 | +52.4% | May 22, 2024 |
| Loop Capital Markets | Mark Schappel | $530 | $493.92 | +46.9% | May 21, 2024 |
| Needham | Scott Berg | $600 | $493.92 | +66.3% | May 21, 2024 |
| Oppenheimer | Ken Wong | $500 | $458.07 | +38.6% | Apr 25, 2024 |
| Needham | Joshua Reilly | $475 | $392.44 | +31.6% | Jun 16, 2023 |
| Barclays | Analyst unavailable | $350 | $313.76 | -3.0% | Jan 11, 2023 |
| Truist Financial | Terry Tillman | $500 | $324.19 | +38.6% | Jul 12, 2022 |
| Wells Fargo | Michael Turrin | $435 | $309.99 | +20.5% | Jun 14, 2022 |
| Wells Fargo | Analyst unavailable | $405 | $385.4 | +12.2% | Apr 25, 2022 |
| D.A. Davidson | Peter Heckmann | $440 | $494.39 | +21.9% | Jul 26, 2021 |
| RBC Capital | Matthew Hedberg | $500 | $413.17 | +38.6% | Jun 8, 2021 |
Track every rating change on TYL the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationTyler Technologies, Inc. specializes in delivering comprehensive information management solutions and services tailored for the public sector. Its operations are organized into three primary divisions: Enterprise Software, Appraisal and Tax, and NIC. The company's extensive product portfolio encompasses financial management tools, such as modular fund accounting systems designed for government bodies and non-profit organizations, as well as utility billing platforms for managing both metered and unmetered services. Additionally, Tyler offers solutions that automate a wide array of municipal and county operations, ranging from municipal court and parking ticket administration to animal and business licensing, permits and inspections, code enforcement, citizen complaint resolution, ambulance billing, fleet maintenance, and cemetery records management. Educational institutions, particularly K-12 schools, benefit from their specialized student information and transportation management systems.…
Historical context
All TYL earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| WIT Wipro Limited | FY2027 Q2 · Calendar Q4 2026 | -25.0% | +3.9% | Wipro: AI pipeline expands as Q3 guidance stays narrow |
| TSM Taiwan Semiconductor Manufacturing Company Limited | FY2026 Q3 · Calendar Q4 2026 | +3.4% | -1.8% | TSMC beats Q3 guidance as AI demand drives fab expansion |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | FY2026 Q3 · Calendar Q4 2026 | +28.6% | +11.8% | Ericsson Q3: 7% organic growth, resilient margins and AI-led demand |
| ASML ASML Holding N.V. | FY2026 Q3 · Calendar Q4 2026 | +20.4% | -3.9% | ASML: Record Q3, strong AI demand and broader capacity plans |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-04-09T00:03:27.736600+00:00
- Polygon adjusted daily market bars · 2026-10-17T10:10:46.320955+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T10:10:46.318267+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-17. For educational purposes only; not investment advice.