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.
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.
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.
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.