Intel stock extends gains after report of possible U.S. government stake
Asure Software Inc . (NASDAQ:ASUR) stock soared to a 52-week high, reaching a price level of $10.67, marking a significant milestone for the company's shares. According to InvestingPro data, the company maintains impressive gross profit margins of 68.55%, though technical indicators suggest the stock may be in overbought territory. This peak reflects a robust year-over-year growth, with the stock experiencing an impressive 19.98% increase in value over the past year. Investors have shown increased confidence in Asure's market position and growth prospects, contributing to the stock's upward trajectory and its achievement of this new high-water mark. With a market capitalization of $277 million and analyst price targets ranging up to $20, InvestingPro subscribers can access 12 additional key insights about ASUR's growth potential and financial health through the comprehensive Pro Research Report.
In other recent news, Asure Software reported steady Q3 revenue of $29.3 million, with a notable 20% growth in recurring revenue, which now comprises 98% of the total revenue. The company also saw a robust 250% year-over-year growth in backlog, suggesting potential for future expansion. Asure Software has been active on the acquisition front, completing 12 in the past year, adding $15 million to its recurring revenue.
The company has updated its 2024 revenue guidance to $119-$121 million and anticipates an adjusted EBITDA margin of 18%-19%. Initial revenue guidance for 2025 has been set at $134-$138 million, with an estimated EBITDA margin of 23%-24%. Asure Software plans to introduce AsurePay and new solutions for small businesses as part of its growth strategy.
Despite facing challenges such as workforce access issues among small businesses and potential interest rate headwinds, Asure Software remains optimistic about its financial health. The company is considering debt financing in 2025 to support both organic and inorganic revenue growth. These recent developments highlight Asure Software's strategic moves to navigate market complexities and enhance its future growth potential.
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