Asure Software Stock Hits 52-Week High at $12.49 Amid Growth

Asure Software Inc (NASDAQ:) stock soared to a 52-week high, reaching $12.49, marking a significant milestone for the company's shares. With a market capitalization of $330 million, the company boasts impressive gross profit margins of 68.5%. According to InvestingPro analysis, technical indicators suggest the stock is in overbought territory. This peak reflects a robust year for Asure, with the stock delivering a strong year-to-date return of 31.77%. Investors have shown increased confidence in the company's performance and future prospects, with analysts expecting positive net income growth this year. The 52-week high serves as a testament to Asure Software's growing market presence and its ability to adapt and thrive in the dynamic tech landscape. Discover 12 additional key insights about ASUR with InvestingPro's comprehensive research report.

In other recent news, Asure Software has been the subject of attention following the release of their steady Q3 revenue results and an optimistic outlook for future growth. The company reported a Q3 revenue of $29.3 million, with no year-over-year change, and a significant rise in recurring revenue, now making up 98% of total revenue. Furthermore, Asure Software completed 12 acquisitions in the past year, contributing $15 million to the recurring revenue.

TD Cowen's analyst Bryan Bergin has raised the price target for Asure Software to $13, up from $11, while maintaining a buy rating. The analyst's outlook for the company's fourth-quarter results is neutral, expecting them to align closely with Street expectations. The revised price target is based on a 2.4 times multiple of the projected calendar year 2026 enterprise value to sales.

Asure Software has updated its 2024 revenue guidance to $119-$121 million and set its initial 2025 revenue guidance at $134-$138 million. The company anticipates an adjusted EBITDA margin of 18%-19% for 2024 and 23%-24% for 2025. Additionally, Asure Software plans to introduce AsurePay and new solutions for small businesses in the near future. These developments come as part of Asure Software's recent actions and strategies to foster growth and increase its market position.

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