Asure (ASUR – Research Report), 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 $13.00 price target.
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Bryan Bergin has given his Buy rating due to a combination of factors including Asure’s strong start to FY25 with notable revenue and EBITDA performance, surpassing expectations by 2% and 11% respectively. The company demonstrated impressive growth in new bookings, which increased by 45% year-over-year, significantly boosting its contracted revenue backlog by 339%. This substantial backlog provides Asure with high visibility into its FY25 guidance, supported by the anticipated acceleration in revenue growth from large deal activations and increasing product adoption rates.
Furthermore, Asure’s strategic initiatives, such as its partnership with Strada and expansion into the Canadian market, are expected to drive further growth. The company’s focus on leveraging recent investments in sales and technology is projected to enhance EBITDA growth throughout FY25. Despite macroeconomic uncertainties, Asure maintains a stable cost structure and continues to pursue an active M&A strategy, supported by a new $60 million credit facility. These factors collectively underpin Bergin’s confidence in Asure’s ability to achieve its CY25 outlook and justify the Buy rating.
According to TipRanks, Bergin is a 3-star analyst with an average return of 2.3% and a 47.26% success rate. Bergin covers the Technology sector, focusing on stocks such as Cognizant, Accenture, and Exlservice Holdings.
In another report released today, Roth MKM also reiterated a Buy rating on the stock with a $15.00 price target.