Absolute Software Co. (NASDAQ:ABST) Expected to Report Quarterly Sales of $51.80 Million


Equity research analysts expect Absolute Software Co. (NASDAQ: ABSTGet a rating) to report $51.80 million in sales for the current fiscal quarter, according to Zacks. Two analysts made estimates of Absolute Software’s earnings. Absolute Software reported sales of $30.65 million in the same quarter last year, suggesting a positive year-over-year growth rate of 69%. The company is expected to release its next earnings report after the market closes on Monday, January 1.

On average, analysts expect Absolute Software to report annual sales of $207.30 million for the current fiscal year, with estimates ranging from $207.00 to $207.60 million. For next year, analysts expect the company to record sales of $230.65 million, with estimates ranging from $228.80 million to $232.50 million. Zacks sales calculations are an average average based on a survey of research analysts who cover Absolute Software.

Absolute software (NASDAQ: ABSTGet a rating) last reported its quarterly earnings data on Tuesday, February 8. The company reported earnings per share (EPS) of $0.13 for the quarter, beating the consensus estimate of ($0.06) by $0.19. The company posted revenue of $49.05 million in the quarter, against analyst estimates of $50.15 million.

A number of research companies have weighed in on ABST recently. TheStreet upgraded Absolute Software’s shares from a “c-” rating to a “d+” rating in a Wednesday, February 9 research note. Raymond James lowered his price target on Absolute Software shares from $19.00 to $16.00 and gave the stock an “outperform” rating in a Wednesday, Feb. 9 research note. Zacks Investment Research upgraded Absolute Software’s shares from a “sell” to a “hold” rating in a Tuesday, Jan. 11 research report. Finally, TD Securities moved Absolute Software shares from a “hold” rating to a “buy” rating and raised its price target for the stock from $11.00 to $13.00 in a Wednesday, February 9 research report. Three analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.92.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Edenbrook Capital LLC increased its position in Absolute Software by 82.9% during the 4th quarter. Edenbrook Capital LLC now owns 4,365,227 shares of the company worth $41,068,000 after purchasing an additional 1,978,563 shares last quarter. ETF Managers Group LLC increased its position in Absolute Software by 61.0% during the 4th quarter. ETF Managers Group LLC now owns 3,280,894 shares of the company worth $31,248,000 after purchasing an additional 1,243,450 shares last quarter. Lynrock Lake LP increased its position in Absolute Software by 49.2% during the 4th quarter. Lynrock Lake LP now owns 3,309,045 shares of the company worth $31,138,000 after purchasing an additional 1,091,345 shares in the last quarter. NewGen Asset Management Ltd acquired a new stake in Absolute Software in the third quarter worth approximately $9,067,000. Finally, Paradigm Capital Management Inc. NY increased its position in Absolute Software by 311.5% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 983,600 shares of the company valued at $9,255,000 after acquiring an additional 744,600 shares in the last quarter. 63.89% of the shares are held by institutional investors.

Shares of ABST opened at $8.11 on Friday. The stock has a market capitalization of $411.43 million, a P/E ratio of -30.04 and a beta of 0.91. The company’s fifty-day moving average is $8.56 and its two-hundred-day moving average is $9.15. Absolute Software has a 1 year minimum of $7.22 and a 1 year maximum of $15.67.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 25. Shareholders of record on Friday, February 11 received a dividend of $0.0642 per share. The ex-dividend date was Thursday, February 10. This represents a dividend of $0.26 on an annualized basis and a dividend yield of 3.17%. This is an increase from Absolute Software’s previous quarterly dividend of $0.06. Absolute Software’s dividend payout ratio is currently -92.59%.

Absolute Software Company Profile (Get a rating)

Absolute Software Corporation develops, markets and delivers a cloud-based endpoint visibility and control platform for managing and securing computing devices, applications and data for enterprises and public sector organizations. The company offers the Absolute platform to provide connectivity, visibility and control of operating system data and devices; to automatically return to a safe operational state without user intervention; to support various other security controls and productivity tools against degradation and vulnerabilities; and to enable measurement of the health, compliance and degraded state of endpoint security controls and self-healing of productivity tools if the app is uninstalled or broken.

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