Analyst Consensus ?
ConsensusBuy35 ratings
Bullish2571.4%
Neutral1028.6%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Tyler Technologies, Inc. · TYL · FY2026 Q1 · Calendar Q2 2026
Tyler Technologies Beats on Q1, Raises Guidance on FTR Acquisition and Cloud Momentum
Tyler Technologies delivered a record Q1 FY2026, beating consensus on both EPS ($3.09 vs $3.00 estimated) and revenue ($613.5M vs $608.7M estimated). Management raised full-year 2026 guidance, primarily reflecting the completed For The Record acquisition and stronger transaction-based revenue. Free cash flow more than doubled year-over-year, driven by working-capital improvements rather than one-off items. Cloud migration continues to progress, with public safety customers now approximately 100% cloud-based. Despite the beat-and-raise, the market reacted negatively with a -5.2% abnormal move and -8.2% subsequent drift. Analyst concerns about the organic vs. inorganic contribution to the guidance raise and management's characterization of a slower near-term AI revenue ramp offer a plausible read on the disconnect between fundamentals and price action. The stock trades at $323.31, well…
Reported After market closeNYSETechnology
$13.63B market cap
100quality score
Company 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.…
Earnings scorecard
Reported versus consensus
Reported EPS
$3.09
Consensus $3
EPS surprise
+3.0%
Reported versus consensus
Reported revenue
$613.5M
Consensus $608.7M
Revenue surprise
+0.8%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$314.04Current
$340Low
$473.32Average
$700High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 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 |
|---|---|---|---|---|
| TD Cowen | Buy | Buy | Maintain | Jul 27, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jun 23, 2026 |
| DA Davidson | Buy | Buy | Maintain | Jun 10, 2026 |
| BTIG | 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 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Feb 13, 2026 |
| Stifel | Buy | Buy | Maintain | Feb 13, 2026 |
| Piper Sandler | Overweight | Overweight | 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 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 18, 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 $314.04. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Guggenheim | Analyst unavailable | $440 | $284.32 | +40.1% | Jul 22, 2026 |
| Stifel Nicolaus | Parker Lane | $400 | $308.92 | +27.4% | Jun 10, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $340 | $308.92 | +8.3% | Jun 10, 2026 |
| Barclays | Saket Kalia | $425 | $308.92 | +35.3% | Jun 10, 2026 |
| Truist Financial | Terry Tillman | $440 | $339.11 | +40.1% | May 1, 2026 |
| Robert W. Baird | Analyst unavailable | $455 | $339.56 | +44.9% | May 1, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $360 | $338.32 | +14.6% | May 1, 2026 |
| Barclays | Analyst unavailable | $420 | $341.14 | +33.7% | May 1, 2026 |
| BTIG | Analyst unavailable | $420 | $316.65 | +33.7% | Apr 10, 2026 |
| Goldman Sachs | Analyst unavailable | $420 | $303.71 | +33.7% | Feb 13, 2026 |
| Robert W. Baird | Analyst unavailable | $440 | $305.46 | +40.1% | Feb 13, 2026 |
| Cantor Fitzgerald | Matthew VanVliet | $325 | $304.14 | +3.5% | Feb 13, 2026 |
| Oppenheimer | Analyst unavailable | $450 | $300.14 | +43.3% | Feb 13, 2026 |
| Piper Sandler | Clarke Jeffries | $543 | $287.04 | +72.9% | Feb 13, 2026 |
| Barclays | Saket Kalia | $410 | $287.04 | +30.6% | Feb 13, 2026 |
| D.A. Davidson | Analyst unavailable | $460 | $360.51 | +46.5% | Feb 11, 2026 |
| BTIG | Analyst unavailable | $470 | $348.35 | +49.7% | Feb 9, 2026 |
| Oppenheimer | Ken Wong | $510 | $440.58 | +62.4% | Jan 23, 2026 |
| Piper Sandler | Clarke Jeffries | $671 | $446.46 | +113.7% | Jan 13, 2026 |
| Goldman Sachs | Analyst unavailable | $560 | $446.46 | +78.3% | Jan 13, 2026 |
| Wells Fargo | Michael Turrin | $470 | $448.23 | +49.7% | Jan 8, 2026 |
| Stifel Nicolaus | Analyst unavailable | $550 | $448.23 | +75.1% | Jan 7, 2026 |
| BTIG | Analyst unavailable | $560 | $450.11 | +78.3% | Dec 16, 2025 |
| D.A. Davidson | Peter Heckmann | $510 | $459.51 | +62.4% | Dec 9, 2025 |
| D.A. Davidson | Peter Heckmann | $540 | $481.69 | +72.0% | Oct 31, 2025 |
| Robert W. Baird | Analyst unavailable | $660 | $478.08 | +110.2% | Oct 31, 2025 |
| Truist Financial | Terry Tillman | $675 | $476.5 | +114.9% | Oct 31, 2025 |
| Oppenheimer | Ken Wong | $600 | $478.08 | +91.1% | Oct 30, 2025 |
| D.A. Davidson | Analyst unavailable | $560 | $504.04 | +78.3% | Oct 10, 2025 |
| D.A. Davidson | Analyst unavailable | $585 | $608.68 | +86.3% | Aug 5, 2025 |
| Cantor Fitzgerald | Matthew VanVliet | $600 | $574.01 | +91.1% | Jun 3, 2025 |
| Robert W. Baird | Analyst unavailable | $700 | $524.64 | +122.9% | Apr 25, 2025 |
| Barclays | Saket Kalia | $695 | $524.64 | +121.3% | Apr 25, 2025 |
| Wells Fargo | Michael Turrin | $615 | $563.54 | +95.8% | Jan 7, 2025 |
| Needham | Scott Berg | $700 | $586.77 | +122.9% | Oct 22, 2024 |
| D.A. Davidson | Peter Heckmann | $550 | $587.38 | +75.1% | Oct 17, 2024 |
| Truist Financial | Terry Tillman | $600 | $578.68 | +91.1% | Jul 26, 2024 |
| Piper Sandler | Clarke Jeffries | $625 | $564.34 | +99.0% | Jul 26, 2024 |
| Oppenheimer | Ken Wong | $625 | $564.34 | +99.0% | Jul 26, 2024 |
| D.A. Davidson | Peter Heckmann | $456 | $529.09 | +45.2% | Jul 22, 2024 |
| Truist Financial | Terry Tillman | $560 | $494.5 | +78.3% | May 23, 2024 |
| BTIG | Matthew VanVliet | $550 | $495.98 | +75.1% | May 22, 2024 |
| Wells Fargo | Michael Turrin | $550 | $495.98 | +75.1% | May 22, 2024 |
| Loop Capital Markets | Mark Schappel | $530 | $493.92 | +68.8% | May 21, 2024 |
| Needham | Scott Berg | $600 | $493.92 | +91.1% | May 21, 2024 |
| Oppenheimer | Ken Wong | $500 | $458.07 | +59.2% | Apr 25, 2024 |
| Needham | Joshua Reilly | $475 | $392.44 | +51.3% | Jun 16, 2023 |
| Barclays | Analyst unavailable | $350 | $313.76 | +11.5% | Jan 11, 2023 |
| Truist Financial | Terry Tillman | $500 | $324.19 | +59.2% | Jul 12, 2022 |
| Wells Fargo | Michael Turrin | $435 | $309.99 | +38.5% | Jun 14, 2022 |
| Wells Fargo | Analyst unavailable | $405 | $385.4 | +29.0% | Apr 25, 2022 |
| D.A. Davidson | Peter Heckmann | $440 | $494.39 | +40.1% | Jul 26, 2021 |
| RBC Capital | Matthew Hedberg | $500 | $413.17 | +59.2% | Jun 8, 2021 |
Track every rating change on TYL the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-4.2%
Event window
SPY move
+1.0%
Same window
Abnormal move
-5.2%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-8.2%
Up to 20 sessions
TYLSPY benchmark
Follow TYL with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeTranscript intelligence
What changed
Versus the prior quarter (Q4 2025), the most notable changes are: (1) guidance sentiment moved from maintained to raised, largely driven by the For The Record acquisition closing and stronger transaction revenue; (2) the For The Record acquisition was completed, adding approximately $30M in revenue and expanding the judicial market addressable size to potentially $1-1.5B; (3) free cash flow more than doubled year-over-year, compared to the prior quarter's record 41% FCF margin; (4) management offered more specific AI plans, with 40-50 AI-driven use cases slated for rollout over coming quarters; (5) capex outlook shifted to decreasing from not mentioned in the prior quarter; and (6) the bullish score increased from 78 to 82.
Guidance delta
Management raised 2026 full-year guidance versus the prior quarter's maintained stance. The raise was attributed primarily to the contribution from the For The Record acquisition (~$30M in incremental revenue) and stronger-than-expected transaction-based revenue. Prior-quarter guidance had projected revenue of $2.5-2.55B, SaaS growth of 20.5-22.5%, and transaction revenue growth of 5-7%. The raised guidance incorporates the inorganic FTR contribution alongside continued organic momentum in cloud migration and transaction services.
Key takeaways
- Record Q1 revenue with EPS of $3.09 (beat by 3.0%) and revenue of $613.5M (beat by 0.8%).
- Guidance raised for 2026, driven by the For The Record acquisition and stronger transaction-based business.
- Free cash flow more than doubled year-over-year, driven by working-capital improvements rather than one-off items.
- Cloud migration progressing; public safety customers now approximately 100% cloud-based.
- For The Record acquisition completed (third-largest in company history), adding ~$30M revenue and expanding the judicial market to a potential $1-1.5B addressable size.
- Management expects 40-50 AI-driven use cases to roll out over coming quarters, but characterized the near-term AI revenue ramp as slower.
Management priorities
- Roll out 40-50 AI-driven use cases across product lines over coming quarters.
- Host June Investor Day with deeper detail on cloud version consolidation strategy.
- Continue cloud-first strategy targeting >80% of customers on cloud by 2030.
- Maintain share-repurchase program with $650M remaining authorization.
- Expand state and federal sales footprint with dedicated teams.
Related earnings events
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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 . For educational purposes only; not investment advice.