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Asure Software Inc (NASDAQ:ASUR) stock soared to a 52-week high of $11.95, reflecting a robust year for the company with a significant 1-year change of 41.6%. The $311 million market cap company maintains impressive gross profit margins of 68.5%, though InvestingPro analysis indicates the stock is currently trading in overbought territory. This impressive milestone underscores the company's strong performance and investor confidence. While currently unprofitable, analysts expect the company to turn profitable this year, with price targets ranging up to $20 per share. The surge to the 52-week high represents a period of sustained growth for Asure Software, as the company continues to expand its offerings and strengthen its market position. Investors are closely monitoring the stock's trajectory, as the 52-week high serves as a testament to the company's potential for further gains in the market. (InvestingPro subscribers have access to 12 additional key insights about ASUR's valuation and growth prospects.)
In other recent news, Asure Software has been in the spotlight following a price target increase to $13 by TD Cowen, which also maintained a buy rating for the company. The upcoming earnings report, scheduled for March 13, 2025, is expected to align with Street expectations, a sentiment echoed by analyst Bryan Bergin of TD Cowen.
Notably, Asure Software's Q3 revenue remained steady at $29.3 million, with a significant increase in recurring revenue, now constituting 98% of total revenue. The company completed 12 acquisitions in the past year, contributing $15 million to the recurring revenue.
The company's 2024 revenue guidance has been updated to $119-$121 million, with an adjusted EBITDA margin of 18%-19%. Initial 2025 revenue guidance is set at $134-$138 million with an adjusted EBITDA margin of 23%-24%.
Asure Software also plans to launch AsurePay and new solutions for small businesses, indicating a proactive approach to market challenges. These recent developments, including the revised price target by TD Cowen, underscore a positive outlook for Asure Software's growth potential and market position.
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