Asure Earnings: What To Look For From ASUR
Online payroll and human resource software provider Asure (NASDAQ:ASUR) will be announcing earnings. Here's what investors should know.
Last quarter Asure reported revenues of $30.42 million, up 49.9% year on year, beating analyst revenue expectations by 19.4%. It was an exceptional quarter for the company, with an impressive beat of analysts' revenue estimates and full-year revenue guidance exceeding analysts' expectations.
Is Asure buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Asure's revenue to grow 20.6% year on year to $26.41 million, in line with the 21.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 8.5%.
Looking at Asure's peers in the HR software segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. Ceridian delivered top-line growth of 19.6% year on year, beating analyst estimates by 2.2% and Paylocity reported revenues up 25.4% year on year, exceeding estimates by 0.4%. Ceridian traded down 1.3% on the results, Paylocity was down 5.4%.
Read our full analysis of Ceridian's results here and Paylocity's results here.
The whole tech sector has been facing a sell-off and while some of the HR software stocks have fared somewhat better, they have not been spared, with share price declining 2.7% over the last month. Asure is down 4.4% during the same time, and is heading into the earnings with analyst price target of $18.9, compared to share price of $8.5.
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The author has no position in any of the stocks mentioned.
