What Happened?
Shares of HR software provider Asure Software (NASDAQ: ASUR) jumped 1.3% in the morning session after bullish analyst sentiment pointed to significant potential upside for the stock.
The move follows an analysis highlighting a strong consensus of 'buy' ratings from Wall Street analysts, with price targets suggesting a notable increase from its recent price of $8.02. According to one report, the stock has 10 buy ratings with a projected price range of $11.00 to $15.00, implying a potential upside of nearly 64%.
Another report, summarizing forecasts from six analysts, places the average twelve-month price target at $13.60. While the company currently has negative earnings per share, investors appear focused on its positive year-over-year revenue growth of 7.40% and the favorable long-term outlook from the analyst community.
After the initial pop the shares cooled down to $8.24, up 2.3% from previous close.
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What Is The Market Telling Us
Asure Software’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 14 days ago when the stock gained 3.3% on the news that Federal Reserve Chair Jerome Powell signaled that interest rate cuts could be on the horizon.
The positive market-wide sentiment, which saw major indexes like the S&P 500 and Nasdaq jump significantly, likely bolstered investor confidence in Asure.
The company is already viewed favorably by analysts, who have given its stock unanimous “Buy” ratings. Citing a potential upside of nearly 60%, analysts have set an average price target of $13.15 for the cloud-based Human Capital Management (HCM) software provider.
Asure Software is down 13% since the beginning of the year, and at $8.24 per share, it is trading 34.7% below its 52-week high of $12.62 from January 2025. Investors who bought $1,000 worth of Asure Software’s shares 5 years ago would now be looking at an investment worth $1,192.
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