Asure (ASUR) Reports Q1: Everything You Need To Know Ahead Of Earnings
Online payroll and human resource software provider Asure (NASDAQ:ASUR) will be reporting results tomorrow after the bell. Here's what investors should know.
Asure met analysts' revenue expectations last quarter, reporting revenues of $26.26 million, down 10.3% year on year. It was a weaker quarter for the company, with management forecasting growth to slow and a decline in its gross margin.
Is Asure a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Asure's revenue to decline 6.1% year on year to $31.04 million, a reversal from the 35.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Asure has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 9.1% on average.
Looking at Asure's peers in the finance and HR software segment, only Paychex has reported results so far. It missed analysts' revenue estimates by 1.2%, delivering year-on-year sales growth of 4.2%. The stock was down 1.1% on the results.
Read our full analysis of Paychex's earnings results here.Inflation fears have put pressure on growth stocks, and while some of the finance and HR software stocks have fared somewhat better, they have not been spared, with share prices down 4% on average over the last month. Asure is down 2.8% during the same time and is heading into earnings with an average analyst price target of $14.5 (compared to the current share price of $7.2).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.
