Zacks: Brokerages Anticipate Asure Software Inc (ASUR) Will Post Quarterly Sales of $15.24 Million
Equities research analysts expect that Asure Software Inc (NASDAQ:ASUR) will post sales of $15.24 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Asure Software’s earnings, with the highest sales estimate coming in at $15.40 million and the lowest estimate coming in at $14.91 million. Asure Software posted sales of $9.44 million during the same quarter last year, which would indicate a positive year over year growth rate of 61.4%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Monday, November 13th.
On average, analysts expect that Asure Software will report full-year sales of $15.24 million for the current financial year, with estimates ranging from $54.27 million to $55.00 million. For the next financial year, analysts forecast that the business will post sales of $71.08 million per share, with estimates ranging from $68.20 million to $74.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Asure Software.
Asure Software (NASDAQ:ASUR) last announced its quarterly earnings results on Monday, August 14th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). Asure Software had a positive return on equity of 6.93% and a negative net margin of 5.73%. The business had revenue of $12.88 million for the quarter, compared to analyst estimates of $12.23 million.
A number of research analysts have commented on the company. Zacks Investment Research upgraded Asure Software from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price objective on shares of Asure Software in a research report on Tuesday, October 17th. Northland Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Asure Software in a research report on Thursday, September 21st. Scotiabank lowered Asure Software from an “outperform” rating to a “sector perform” rating in a research report on Thursday, September 7th. Finally, Cowen and Company assumed coverage on Asure Software in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $16.50.
Several hedge funds have recently bought and sold shares of the company. Northpointe Capital LLC lifted its stake in shares of Asure Software by 33.9% in the 3rd quarter. Northpointe Capital LLC now owns 544,418 shares of the technology company’s stock valued at $6,762,000 after purchasing an additional 137,769 shares during the period. Skylands Capital LLC lifted its stake in shares of Asure Software by 28.7% in the 3rd quarter. Skylands Capital LLC now owns 191,423 shares of the technology company’s stock valued at $2,377,000 after purchasing an additional 42,648 shares during the period. AWM Investment Company Inc. acquired a new position in shares of Asure Software in the 2nd quarter valued at $2,595,000. Navellier & Associates Inc lifted its stake in shares of Asure Software by 13.1% in the 2nd quarter. Navellier & Associates Inc now owns 49,953 shares of the technology company’s stock valued at $730,000 after purchasing an additional 5,775 shares during the period. Finally, Prudential PLC acquired a new position in shares of Asure Software in the 2nd quarter valued at $3,287,000. 39.68% of the stock is currently owned by institutional investors.
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Shares of Asure Software (NASDAQ ASUR) traded up 5.78% on Friday, reaching $10.80. The company’s stock had a trading volume of 108,218 shares. Asure Software has a 52 week low of $6.36 and a 52 week high of $17.27. The stock’s market capitalization is $134.15 million. The stock has a 50-day moving average of $11.51 and a 200 day moving average of $12.64.
Asure Software Company Profile
Asure Software, Inc is a global provider of cloud-based software-as-a-service (SaaS) solutions that help companies to bring people, time, space and assets together. The Company serves approximately 6,000 clients in over 80 countries. The Company offers a range of solutions to help its clients optimize and manage mobile workforces and global workspaces.
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