In a report released today, Vincent Colicchio from Barrington reiterated a Buy rating on Asure (NASDAQ: ASUR), with a price target of $25. The company’s shares closed yesterday at $16.60.
Colicchio said:
“We are reducing our 2018 non-GAAP EPS forecast to $0.74 from $0.82 due to the dilutive impact of the equity offering. We are maintaining our 2019 non-GAAP EPS forecast as we expect the accretive impact of the USA Payroll acquisition to offset the dilutive impact of the financing.”
According to TipRanks.com, Colicchio is a 3-star analyst with an average return of 6.4% and a 57.4% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Asure has an analyst consensus of Strong Buy, with a price target consensus of $21.50.
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Based on Asure’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.93 million. In comparison, last year the company had a GAAP net loss of $1.84 million.
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Asure Software, Inc. engages in the provision of workforce management software solutions and services. It offers cloud-based software-as-a-service solutions under the AsureSpace and AsureForce brands. The company was founded in 1985 and is headquartered in Austin, TX.