Asure Software (NASDAQ:ASUR)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a report issued on Friday. They currently have a $13.00 price objective on the technology company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 107.34% from the company’s previous close.
The analysts wrote, “We’ve written that ASUR is a show me” stock, and to that point, there are three things that we’ll be watching in 2019: (1) that management can set realistic financial targets and execute at least to plan, (2) signs of gradual improvement in cash conversion on healthy adjusted EBITDA profits, and (3) additional disclosure to support the narrative that organic growth is in fact in the 5-10% range, with the possibility of acceleration as cross-sell execution spools up. If Asure can check the box on all three, we are quite confident that the stock will be re-rated higher, perhaps meaningfully, from today’s ~2.0x EV/R on C2019E. After all, we continue to believe that Asure has set down a proven and quite logical path toward building a larger and nicely profitable business in the payroll/HCM space.””
Other equities research analysts have also recently issued research reports about the company. TheStreet cut Asure Software from a “c-” rating to a “d+” rating in a report on Tuesday, December 11th. Barrington Research reiterated an “outperform” rating and set a $15.00 target price (down previously from $20.00) on shares of Asure Software in a report on Wednesday, January 9th. Zacks Investment Research upgraded Asure Software from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Roth Capital reduced their price target on Asure Software from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, January 8th. Finally, ValuEngine raised Asure Software from a “strong sell” rating to a “sell” rating in a research note on Monday, February 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.38.
Shares of NASDAQ:ASUR opened at $6.27 on Friday. The firm has a market cap of $94.03 million, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.32 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.17 and a current ratio of 1.18. Asure Software has a one year low of $4.26 and a one year high of $19.78.
Asure Software (NASDAQ:ASUR) last announced its earnings results on Thursday, March 14th. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The company had revenue of $24.42 million for the quarter, compared to analyst estimates of $23.99 million. Asure Software had a negative net margin of 13.56% and a positive return on equity of 8.21%. As a group, equities research analysts forecast that Asure Software will post 0.46 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Asure Software by 2.7% during the 3rd quarter. BlackRock Inc. now owns 705,702 shares of the technology company’s stock worth $8,765,000 after purchasing an additional 18,444 shares during the period. Marshall Wace LLP purchased a new position in shares of Asure Software during the 3rd quarter worth $2,331,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Asure Software during the 4th quarter worth $1,524,000. First Interstate Bank lifted its stake in shares of Asure Software by 402.7% during the 4th quarter. First Interstate Bank now owns 18,600 shares of the technology company’s stock worth $94,000 after purchasing an additional 14,900 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Asure Software by 1,895.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,030 shares of the technology company’s stock worth $497,000 after purchasing an additional 38,024 shares during the period. 58.34% of the stock is currently owned by institutional investors.
Asure Software Company Profile
Asure Software Inc provides cloud-based software-as-a-service time and labor management, and workspace management solutions worldwide. The company's product line includes AsureSpace workplace management solutions that enable organizations to manage their office environments and optimize real estate utilization; and AsureForce time and labor management solutions to help organizations optimize workforce, as well as control labor administration costs and activities.
Featured Story: Trading Ex-Dividend Strategy
Receive News & Ratings for Asure Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asure Software and related companies with MarketBeat.com's FREE daily email newsletter.