Analyst Bryan Bergin from TD Cowen maintained a Buy rating on Asure and keeping the price target at $11.00.
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Bryan Bergin has given his Buy rating due to a combination of factors including Asure’s strong organic growth momentum and its ability to exceed revenue and EBITDA expectations. The company has demonstrated a solid performance in a challenging Human Capital Management (HCM) environment, with notable improvements in organic growth and profitability. Asure’s 3Q results surpassed its guidance, showcasing both organic and inorganic growth contributions that were previously underestimated.
Furthermore, Asure is making strides in enhancing profitability, with the potential to achieve GAAP profitability soon. The company’s free cash flow margin has significantly improved, and it is effectively expanding its margins through operational leverage. Bergin also notes that Asure’s valuation presents limited downside risk, with potential for valuation expansion supported by improved expectations management and strong execution. These factors collectively support the Buy rating for Asure’s stock.
According to TipRanks, Bergin is an analyst with an average return of -1.1% and a 44.09% success rate. Bergin covers the Technology sector, focusing on stocks such as Accenture, Block, and Grid Dynamics Holdings.