Barrington analyst Vincent Colicchio maintained a Buy rating on Asure (ASUR) today and set a price target of $25. The company’s shares opened today at $8.20, close to its 52-week low of $7.50.
Colicchio observed:
“We believe today’s pullback represents an attractive entry point for ASUR stock. Considering strong bookings and backlog growth and a 4x increase in the pipeline for the hardware business, we believe that the company’s business remains healthy.”
According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -0.5% and a 41.7% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Currently, the analyst consensus on Asure is a Strong Buy with an average price target of $19.50, a 137.8% upside from current levels. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $13 price target.
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Based on Asure’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.77 million. In comparison, last year the company had a GAAP net loss of $1.28 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.
