Paycom Sees Q3 Total Revenues $410M-$412M vs $411.95M Est.; Sees FY23 Total Revenues $1.715B-$1.717B vs $1.71B Est.
Portfolio Pulse from Benzinga Newsdesk
Paycom Software Inc. has projected its Q3 total revenues to be between $410M-$412M, slightly below the estimated $411.95M. The company also forecasts its FY23 total revenues to be between $1.715B-$1.717B, surpassing the estimated $1.71B.
August 04, 2023 | 10:21 am
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NEUTRAL IMPACT
Paycom's Q3 revenue forecast is slightly below estimates, which may negatively impact investor sentiment. However, the FY23 revenue projection surpasses estimates, which could offset the potential negative impact.
The lower than expected Q3 revenue forecast may lead to a short-term negative sentiment among investors, potentially causing a dip in the stock price. However, the higher than expected FY23 revenue projection could offset this negative impact, as it indicates strong future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100