Strength Seen in Asure Software Inc (ASUR): Can Its 6.8% Jump Turn into More Strength?
Asure Software Inc ASUR shares ended the last trading session 6.8% higher at $15.24. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.4% gain over the past four weeks.
The optimism surrounding the stock can be attributable to growing demand for its products and services amid accelerated digital transformation. Asure Software’s strategic initiative to become a pure software-as-a-service HCM company is aiding its top-line growth. The company’s focus on driving innovation for its HCM solutions is helping it expand its footprint in the HCM market.
New client additions and continued focus on cross-selling to existing clients are driving Asure Software’s revenues. The company’s differentiated employee strategy, measurement capabilities and comprehensive product offerings are helping it win new customers.
This company is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +63.6%. Revenues are expected to be $29.27 million, up 20.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Asure Software Inc, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ASUR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Asure Software Inc is part of the Zacks Internet - Delivery Services industry. MakeMyTrip MMYT, another stock in the same industry, closed the last trading session 0.7% higher at $24.03. MMYT has returned -5.8% in the past month.
MakeMyTrip's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.09. Compared to the company's year-ago EPS, this represents a change of +12.5%. MakeMyTrip currently boasts a Zacks Rank of #3 (Hold).
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