TD Cowen Initiates Tyler Technologies (TYL) With Buy, Sees Strong Cloud-Driven Growth

Tyler Technologies, Inc. (NYSE:TYL) ranks among the best big data stocks to invest in. On December 12, TD Cowen began coverage of Tyler Technologies, Inc. (NYSE:TYL) with a Buy rating and a $650 price target. Tyler Technologies, Inc. (NYSE:TYL) was named the leading vendor in the public sector market, which the firm regarded as not only substantial, but also stable.

TD Cowen forecasted roughly 20% long-term growth in software-as-a-service (SaaS), mostly due to cloud migrations. The firm predicts that these cloud migrations would accelerate between 2027 and 2028. The firm also indicated interest in the Tyler Tech’s new artificial intelligence solutions.

In order to bolster its products in 2025, Tyler Technologies, Inc. (NYSE:TYL) has also completed a number of strategic acquisitions. The company purchased Edu.Link Incorporated in order to increase workflow automation, compliance tracking, and instructor evaluations as part of its K–12 HR solutions. Tyler Technologies, Inc. (NYSE:TYL) also bought CloudGavel to boost its electronic warrant solutions, increasing the effectiveness of warrant submissions and assessments in the legal and public safety sectors.

Tyler Technologies, Inc. (NYSE:TYL) is a leading provider of integrated software and services to the North American public sector. The company’s cloud-based solutions allow local governments and public institutions to enhance their data management capabilities as their data evolves.

While we acknowledge the potential of TYL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TYL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.