Absolute Software Corporation (NASDAQ:ABST) currently has a daily average trading volume of 857.84K but it saw 1383992 shares traded on Wednesday. With a market cap of 805.91M USD, stock’s current market price of $11.42 came falling about -0.61 while comparing to the previous closing price of $11.49. In past 52 weeks, the stock remained buoying in the range of price level as high as $12.59 and as low as $7.39. In the recent trading on the day, stock has struck highest price mark of $11.50 while lowest mark touched by it was $11.42.
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Taking a look at 20-day trading activity of Absolute Software Corporation (ABST) gives us an average price of $9.86, while its current price level is -9.26% below from 52-week high level whereas it is 54.62% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $8.72 while that of 200 days or SMA-200 reads an average of $10.08. A closer look into the stock’s movement over the week reveals that its volatility is standing at 0.61% during that period while stretching the period over a month that increases to 2.23%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 78.95 which implies that the stock is in overbought territory.
Absolute Software Corporation (ABST)’s stock is currently under the radar of 5 analysts who are in consensus at a 12-month price target range of between $11.50 and $16.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $11.50 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $16.00. Average price target assigned by them is $12.63 which highlights an upside potential of 9.58% for the stock over that period. And to attain the median price target of $11.50 assigned by those analysts, stock has to add about 0.7% of value to its current levels.
Data by FactSet Research shows that 5 analysts have issued their ratings for the stock. 1 of them are in opinions that stock is a Sell, while 1 are advising it as an Overweight. 0 analysts suggested the investors to Buy the stock while 3 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, ABST’s stock price is moving 0.71% up while it is 47.16% when we observe its performance for the past one month. Year-to-date it is 9.39% up and over the past year, the stock is showing an upside performance of 27.03%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.08 beaten by the consensus estimate of -$0.07 for the same. The company is expected to be releasing its next quarterly report in 08/14/2023, for which analysts forecasted an EPS of -$0.04 while estimate for next year EPS is -$0.43. For ABST, analysts are forecasting an EPS-growth rate of 12.20% for current year and estimate for EPS growth in next year is 72.10%. In next quarter, company is expected to be making quarterly sales of $59.1 million as analysts are expecting the sales for current fiscal year at $231.29 million and seeing the company making $263.45 million in sales next year. Moreover, analysts are in estimates of $61.26 million for current-quarter revenue.
Currently, Absolute Software Corporation’s total number of outstanding shares is 52.80M with 0.10% of that held by the insiders while 82.04% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -1.20%. Stock’s beta reads 0.49. Stock has a price to sale or P/S ratio amounts to 2.77.
In the most recent quarter, Herald Investment Trust Plc came rising its stake by 99.34% in the company and now holds 0.5 million or 0.95% of the company’s stake having worth of about 3.87 million.
