Asure Software (ASUR) Stock Price Down 8.2% After Earnings Miss
Asure Software Inc (NASDAQ:ASUR) shares dropped 8.2% during trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.50 and last traded at $7.12. Approximately 429,715 shares changed hands during trading, an increase of 92% from the average daily volume of 223,517 shares. The stock had previously closed at $7.75.
The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $23.46 million for the quarter, compared to analyst estimates of $24.75 million. Asure Software had a positive return on equity of 8.85% and a negative net margin of 13.56%.
A number of research analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on Asure Software from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Monday. ValuEngine lowered Asure Software from a “sell” rating to a “strong sell” rating in a report on Saturday. Dougherty & Co assumed coverage on Asure Software in a report on Tuesday, August 28th. They issued a “buy” rating and a $20.00 target price on the stock. Craig Hallum dropped their target price on Asure Software from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Monday. Finally, Barrington Research set a $25.00 target price on Asure Software and gave the company a “buy” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.33.
The firm has a market cap of $116.23 million, a PE ratio of 13.91, a P/E/G ratio of 0.50 and a beta of 1.10. The company has a quick ratio of 1.52, a current ratio of 1.54 and a debt-to-equity ratio of 1.06.
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Asure Software Company Profile (NASDAQ:ASUR)
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.
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