NCR Voyix

VYX · NYSE

$8.28+$0.51 (+6.56%)TodayMarket closed · Oct 20, 7:32 PM ET

Prev close $7.77

VYX 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 · 7 analysts

Average $13.22 (+59.6% upside)

Low: $9.85
Now: $8.28
High: $15.75

Upgrades and downgrades

The latest rating actions, newest first

VYX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Goldman Sachs	Oct 13, 2026	Maintains	Neutral	$9.75 → $8.00	52%
Needham	Sep 29, 2026	Maintains	Buy	$14.00	45%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$10.00 → $13.00	45%
Needham	Aug 6, 2026	Maintains	Buy	$12.00 → $14.00	45%
Goldman Sachs	May 11, 2026	Maintains	Neutral	$8.00 → $9.00	52%
Goldman Sachs	Apr 14, 2026	Maintains	Neutral	$9.00 → $8.00	52%
DA Davidson	Mar 5, 2026	Maintains	Buy	$17.00 → $14.00	49%
Needham	Feb 26, 2026	Maintains	Buy	$15.00 → $12.00	45%
Goldman Sachs	Jan 13, 2026	Maintains	Neutral	$13.00 → $11.50	52%

The case for and against

Updated Oct 15, 2026

Bull case

NCR Voyix is attractive because its VCP rollout is gaining real traction, with 25 signed contracts and recurring revenue growth (RCV) up 65% year over year to $286 million, signaling stronger software monetization and installed-base expansion across retail and restaurants. The company also showed improving operating quality in 2Q, with revenue of $523 million, adjusted EBITDA of $98 million at an 18.7% margin, and adjusted free cash flow of $56 million before restructuring, while cash rose to $237 million and net leverage remained manageable at 2x. Its outlook is further supported by a clearer path to normalized growth as one-time restructuring and divestiture effects fade, while continued platform conversions, payments attach, and share repurchases should support margin expansion and shareholder value.

Bear case

NCR Voyix is facing a bearish setup because a prolonged downturn could reduce spending across its Retail and Restaurants segments, slow new-logo wins, and delay customers’ migration to the SaaS-based platform, directly pressuring growth and valuation. The April 13, 2023 ransomware-related data center outage highlights meaningful operational and cybersecurity risk, and additional outages could disrupt service, increase churn, and weaken revenue, especially as more of the installed base moves to the cloud-native Voyix Commerce Platform. Margin risk is also elevated from post-separation dis-synergies, dependence on a single hardware manufacturer, third-party product resale exposure, and rising competition or memory chip cost inflation that could delay installations and hardware refresh cycles.

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