Agilysys

AGYS · NASDAQ

$116.40+$4.17 (+3.72%)TodayMarket closed · Oct 20, 7:55 PM ET

Prev close $112.23

AGYS analyst rating

BuyConsensus of 4 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy3
Hold1
Underperform0
Sell0

12-month price target · 9 analysts

Average $135.51 (+16.4% upside)

Low: $119.18
Now: $116.40
High: $166.95

Upgrades and downgrades

The latest rating actions, newest first

AGYS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Aug 10, 2026	Maintains	Buy	$130.00 → $135.00	45%
Needham	Jul 28, 2026	Maintains	Buy	$120.00 → $130.00	45%
Piper Sandler	Jul 28, 2026	Maintains	Overweight	$110.00 → $120.00	73%
Piper Sandler	Jun 3, 2026	Initiates	Overweight	$110.00	73%
Oppenheimer	May 19, 2026	Maintains	Outperform	$90.00 → $100.00	46%
Needham	May 19, 2026	Maintains	Buy	$120.00	45%
Needham	Apr 28, 2026	Maintains	Buy	$120.00	45%
Oppenheimer	Apr 9, 2026	Maintains	Outperform	$140.00 → $90.00	46%
Needham	Feb 17, 2026	Maintains	Buy	$140.00 → $120.00	45%
Needham	Jan 27, 2026	Maintains	Buy	$140.00	45%

The case for and against

Updated Oct 14, 2026

Bull case

Agilysys is positioned well because its differentiated, tightly integrated hospitality software stack is gaining share through record bookings, seven-figure ecosystem wins, and expanding cross-sell within a large installed base. The ongoing Marriott PMS roll-out is the key catalyst, with over 2,000 select-service hotels already transitioned and additional premium and luxury tiers still to come, while management’s FY27 guidance calls for at least 30% subscription growth and 24% adjusted EBITDA margins. Fundamentally, the mix shift toward high-margin subscription and maintenance revenue, along with AI and operating-leverage efficiencies, supports margin expansion, strong cash generation, and a premium valuation profile.

Bear case

Agilysys is viewed negatively because its hospitality-focused revenue base is vulnerable to prolonged economic downturns, recession, or lockdown-like shocks that can delay hotel, casino, and resort IT spending, especially on PMS and POS upgrades. Although PMS pricing is partly per room per night and therefore less tied to occupancy, products revenue was only 12.9% of FY26 revenue and carried mid-40%s gross margins, while product development, sales and marketing, and G&A together still consumed a large share of revenue at 48.5% in FY26. The outlook is also weakened by supplier concentration, competitive pressure from Oracle MICROS and lower-cost vendors, and global operating risk from India-based delivery capacity, with valuation downside tied to slower growth and potential EV/revenue compression toward ~5x or ~3x FY27 estimates.

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