An interesting stock that came up in some of our conversations today is Asure Software, Inc. (NASDAQ:ASUR). At current price of $6.4, the shares have already lost -0.17 points (-2.59% lower) from its previous close of $6.57. Should you buy or avoid them? The stock sets an active trading volume day with a reported 90859 contracts so far this session. ASUR shares had a relatively better volume day versus average trading capacity of 250.6 thousand shares, but with a 13.35 million float and a -20.46% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ASUR stock indicates that the average analyst price target is $13.25 per share. This means the stock has a potential increase of 107.03% from where the ASUR share price has been trading recently which is between $6.51 and $6.88. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $9.
The shorts are climbing into Asure Software, Inc. (ASUR) stock. The latest set of short interest data was released on 29 March 2019, and the numbers show a rise in short interest in ASUR shares. While short interest still represents only 24.52% of ASUR’s float, the number of shares shorted have risen by 42729. The number of shares shorted advanced to 3273129 shares, up from 3230400 shares during the preceding fortnight. With average daily trading volumes at 208445 shares, days to cover increased to about 12.07653 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “These stocks are ‘undervalued,’ Wall Street analysts say” and dated April 13, 2019.
During the recent trading session for Asure Software, Inc. (NASDAQ:ASUR), the company witnessed their stock drop by $-1.24 over a week and surge $0.34 from the price 20 days ago. When compared to their established 52-week high of $19.78, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/11/18. The recent low of $4.26 stood for a -67.64% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.96 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Asure Software, Inc., the two-week RSI stands at 45.99. This figure suggests that ASUR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ASUR readings is similarly very revealing as it has a stochastic reading of 20.3% at this stage. This figure means that ASUR share price today is being overbought.
Technical chart claims that Asure Software, Inc. (ASUR) would settle between $6.8/share to $7.02/share level. However, if the stock price goes below the $6.43 mark, then the market for Asure Software, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $6.28 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.41. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Barrington Research lifted target price for shares of ASUR but were stick to Outperform recommendation for the stock in their opinion released on January 09. The price target has been raised from $20 to $15. Dougherty & Company analysts have lowered their rating of Asure Software, Inc. (NASDAQ:ASUR) stock from Buy to Neutral in a separate flash note issued to investors on November 13. Analysts at Needham are sticking to their Buy stance. However, on November 12, they lifted price target for these shares to $12 from $20.
ASUR equity has an average rating of 1.89, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Asure Software, Inc. (NASDAQ:ASUR) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, ASUR stock price is currently trading at 8.5X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.14 while for the average stock in the same group, the multiple is 8.14.
Asure Software, Inc. (ASUR)’s current-quarter revenues are projected to climb by nearly 34.9% to hit $26.04 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 18.18% from $88.95 million to a noteworthy $105120. At the other end of the current quarter income statement, Asure Software, Inc. is expected to see its adjusted earnings surge by roughly -7.69% to hit $0.12 per share. For the fiscal year, ASUR’s earnings are projected to climb by roughly 14.55% to hit $0.63 per share.