11:32 AM EDT, 05/08/2024 (MT Newswires) -- PowerSchool Holdings ( PWSC ) "executed well during its seasonally quiet Q1" with double-digit revenue growth and margin expansion expected in 2024, Macquarie said Wednesday in a note.

Cross-selling global expansion, artificial intelligence innovation and mergers and acquisitions support revenue prospects, Macquarie said.

"PowerSchool ( PWSC ) highlighted it had one of its largest wins in company history with the Indiana Department of Education," the report said.

The company's AI-powered PowerBuddy assistant has 2 million students beta testing and 10 million in pipeline opportunities for learning and assessment, the report said.

Macquarie maintained its outperform rating and $27 price target on PowerSchool's ( PWSC ) stock.

Separately, Bain Capital is in talks to take PowerSchool ( PWSC ) private in a deal that may value the company at $6 billion including debt, The Wall Street Journal reported Wednesday.

PowerSchool ( PWSC ) shares jumped 20% in recent Wednesday trading.

Price: 20.05, Change: +3.41, Percent Change: +20.49