Asure Software Down 20.27% To $6.83 After Earnings Beat

Asure Software Inc (ASUR) surpassed earnings projections on 11/13/2023 for Q3 2023.

Asure Software's earnings came in at an EPS of $0.19 per share, 217.00% higher than estimates for an EPS of $0.06 per share. The firm's earnings are up 2000% since reporting losses of $0.01 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $29.3 million. That is an increase of 33.93% in revenues from the year-ago report and is 10.86% higher than consensus estimates set at $26.5 million.

The stock is down 20.27% to $6.83 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Asure Software has performed a little above average during the past few months. Before the report, Asure Software received a Long-Term Technical Rank by InvestorsObserver of 50, putting it in the top half of stocks. The firm set a 52-week high on April 18, 2023 at $17.14 and set a 52-week low on November 14, 2022 at $6.59.

Asure Software Inc offers cloud-based Human Capital Management (HCM) solutions delivered primarily as Software-as-a-Service (SaaS). It facilitates small and mid-sized businesses (SMBs) to develop their Human Capital to get to the next level, stay compliant, and allocate their time, money and technology toward growth. The company's HCM suite, named AsureHCM, includes cloud-based Payroll and Tax, HR, a Time and Attendance software. Its HR services range from HR projects to outsourcing payroll to HR consulting services. The firm sells its HCM products in the United States.