Analyst Bryan Bergin of TD Cowen maintained a Buy rating on Asure (ASUR – Research Report), retaining the price target of $13.00.
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Bryan Bergin’s rating is based on Asure’s strong performance in 2024 and its positive outlook for 2025. The company has demonstrated robust growth in its Payroll Tax Management offering and has shown consistent demand in its core SMB payroll and HCM business. Despite market volatility, Asure has maintained a stable hiring environment and has prudently forecasted future conditions.
Furthermore, Asure’s bookings performance was impressive, with significant growth in new PTM signings and a substantial increase in backlog. The company is building a more stable and valuable revenue base with a broadening HCM solution set, boasting a high percentage of recurring revenue. Asure’s strategic acquisitions and management’s focus on scaling up to enhance profitability further support the Buy rating.
Bergin covers the Technology sector, focusing on stocks such as Grid Dynamics Holdings, Accenture, and Asure. According to TipRanks, Bergin has an average return of 6.4% and a 53.02% success rate on recommended stocks.
In another report released yesterday, Lake Street also maintained a Buy rating on the stock with a $13.00 price target.