Wall Street analysts’ outlook for Absolute Software Corporation (ABST)

Absolute Software Corporation (NASDAQ: ABST) stock jumped 4.83% on Wednesday to $10.20 against a previous-day closing price of $9.73. With 0.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.13 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $10.20 whereas the lowest price it dropped to was $9.58. The 52-week range on ABST shows that it touched its highest point at $12.59 and its lowest point at $6.79 during that stretch. It currently has a 1-year price target of $15.50. With its current market cap of 701.66 million, ABST has annualized dividend of $0.32 while the current yield stands at 3.14%. Beta for the stock currently stands at 0.59.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ABST was up-trending over the past week, with a rise of 9.56%, but this was down by -14.72% over a month. Three-month performance dropped to -16.87% while six-month performance rose 17.51%. The stock gained 12.09% in the past year, while it has gained 8.40% so far this year. A look at the trailing 12-month EPS for ABST yields -0.69 with Next year EPS estimates of 0.08. For the next quarter, that number is -0.08. This implies an EPS growth rate of -750.10% for this year and 850.00% for next year.

Float and Shares Shorts:

At present, 51.42 million ABST shares are outstanding with a float of 35.38 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.13 million, which was 2.21% higher than short shares on Sep 14, 2022. In addition to Ms. Christy Wyatt as the firm’s CEO, Pres & Director, Dr. Nicholas Benedict Van Someren serves as its Chief Technology Officer.


Institutional Ownership:

Through their ownership of 73.23% of ABST’s outstanding shares, institutional investors have majority control over the company. Other institutions hold — of ABST, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 4.44% stake in ABST, the Legal & General UCITS ETF PLC – C is the largest stakeholder. A total of 2,271,554 shares are owned by the mutual fund manager. The Global X Cyber Security ETF, which owns about 1.78% of ABST stock, is the second-largest Mutual Fund holder. It holds 911,583 shares valued at 10.95 million. Crawford Small Cap Dividend Fund holds 0.76% of the stake in ABST, owning 386,525 shares worth 4.64 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ABST since 5 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ABST analysts setting a high price target of $17.00 and a low target of $11.13, the average target price over the next 12 months is $14.83. Based on these targets, ABST could surge 66.67% to reach the target high and rise by 9.12% to reach the target low. Reaching the average price target will result in a growth of 45.39% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ABST will report FY 2023 earnings on 08/14/2023. Analysts have provided yearly estimates in a range of -$0.29 being high and -$0.37 being low. For ABST, this leads to a yearly average estimate of -$0.32. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Absolute Software Corporation surprised analysts by -$0.09 when it reported -$0.18 EPS against a consensus estimate of -$0.09. The surprise factor in the prior quarter was -$0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.06 and the low estimate is -$0.11. The average estimate for the next quarter is thus -$0.08.

Dividends & Yield:

In terms of dividends, ABST has a current ratio of $0.24, which is $0.24 over the trailing 12-months, while a dividend of $0.25 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and ABST currently yields $2.61. In the past year, ABST’s dividend yield has been $2.61, but when looking at the stock over the past five years, its yield has been $3.20. Accordingly, ABST has a current buyback yield of $0.0. This was $0.0 for the TTM.

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