Asure, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Bryan Bergin from TD Cowen maintained a Buy rating on the stock and has a $11.00 price target.
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Bryan Bergin has given his Buy rating due to a combination of factors including Asure’s potential for improved performance and attractive valuation. Despite the recent challenges in meeting revenue and EBITDA expectations, the company is poised for growth with its broadened Human Capital Management (HCM) offerings. The acquisition of Latham Time is expected to enhance Asure’s capabilities and contribute positively to its financials in the near term.
Bergin acknowledges the current market sentiment is cautious due to missed targets and revised guidance, but he sees potential in Asure’s path to achieving significant EBITDA margins and profitability. The company’s steady base business, coupled with increased client engagement and a strong contracted revenue backlog, supports a positive outlook. Additionally, Asure’s efforts to increase product adoption among clients and the potential for higher revenue per client bolster confidence in its long-term growth trajectory.
In another report released today, Northland Securities also maintained a Buy rating on the stock with a $11.00 price target.