Absolute software (NASDAQ: ABST – Get a rating) had its target price reduced by equity researchers at BMO Capital Markets from C$14.00 to C$12.00 in a note issued to investors on Wednesday, Fly reports.
A number of other stock analysts also weighed in on the stock. Canaccord Genuity Group cut its price target on Absolute Software shares from $22.00 to $17.00 in a report on Wednesday. Raymond James cut his price target on Absolute Software shares from $19.00 to $16.00 and set an “outperform” rating on the stock in a Wednesday, February 9, report. Zacks Investment Research upgraded Absolute Software’s shares from a “sell” rating to a “hold” rating in a report on Tuesday, January 11. TheStreet downgraded shares of Absolute Software from a “c-” rating to a “d+” rating in a Wednesday, February 9 report. Finally, TD Securities upgraded Absolute Software shares from a “hold” rating to a “buy” rating and raised its price target for the company from $11.00 to $13.00 in a report of Wednesday 9 February. Three analysts gave the stock a hold rating and four gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $16.86.
ABST NASDAQ traded at $0.25 in midday trading on Wednesday, hitting $7.18. 8,523 shares were traded, against an average volume of 124,791. Absolute Software has a 1-year low of $6.79 and a 1-year high of $15.50. The company’s 50-day simple moving average is $8.16 and its 200-day simple moving average is $8.82. The stock has a market capitalization of $366.45 million, a PE ratio of -26.59 and a beta of 0.92.
Absolute software (NASDAQ: ABST – Get a rating) last announced its results on Tuesday, February 8. The company reported earnings per share (EPS) of $0.13 for the quarter, beating analyst consensus estimates of $0.06 ($0.06) by $0.19. The company posted revenue of $49.05 million for the quarter, versus analyst estimates of $50.15 million. On average, analysts expect Absolute Software to post -0.2 EPS for the current fiscal year.
Several large investors have recently changed their positions in ABST. Shell Asset Management Co. increased its stake in Absolute Software by 44.6% during the 4th quarter. Shell Asset Management Co. now owns 5,010 shares of the company valued at $47,000 after purchasing an additional 1,546 shares during the period. FinTrust Capital Advisors LLC acquired a new equity stake in Absolute Software in Q1 worth approximately $49,000. National Bank of Canada FI acquired a new equity stake in Absolute Software in Q4 worth approximately $82,000. Versor Investments LP acquired a new equity stake in Absolute Software in Q4 worth approximately $98,000. Finally, PDT Partners LLC purchased a new stake in Absolute Software stock in Q4 for approximately $101,000. 65.08% of the shares are held by institutional investors and hedge funds.
About Absolute Software (Get a rating)
Absolute Software Corporation develops, markets and delivers a cloud-based endpoint visibility and control platform for managing and securing computing devices, applications and data for enterprises and public sector organizations. The company offers the Absolute platform to provide connectivity, visibility and control of operating system data and devices; to automatically return to a safe operational state without user intervention; to support various other security controls and productivity tools against degradation and vulnerabilities; and to enable measurement of the health, compliance and degraded state of endpoint security controls and self-healing of productivity tools if the app is uninstalled or broken.
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