BMO Capital Markets Cuts Absolute Software (NASDAQ:ABST) Price Target to C$12.00

Absolute Software (NASDAQ:ABST – Get Rating) had its target price reduced by equities researchers at BMO Capital Markets from C$14.00 to C$12.00 in a note issued to investors on Wednesday, The Fly reports.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Absolute Software from $22.00 to $17.00 in a report on Wednesday. Raymond James decreased their price target on shares of Absolute Software from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, February 9th. Zacks Investment Research upgraded shares of Absolute Software from a “sell” rating to a “hold” rating in a report on Tuesday, January 11th. TheStreet lowered shares of Absolute Software from a “c-” rating to a “d+” rating in a report on Wednesday, February 9th. Finally, TD Securities upgraded shares of Absolute Software from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $13.00 in a report on Wednesday, February 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $16.86.

NASDAQ ABST traded up $0.25 during mid-day trading on Wednesday, reaching $7.18. 8,523 shares of the stock were exchanged, compared to its average volume of 124,791. Absolute Software has a 1-year low of $6.79 and a 1-year high of $15.50. The business’s fifty day simple moving average is $8.16 and its 200 day simple moving average is $8.82. The stock has a market capitalization of $366.45 million, a PE ratio of -26.59 and a beta of 0.92.

Absolute Software (NASDAQ:ABST – Get Rating) last announced its earnings results on Tuesday, February 8th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. The firm had revenue of $49.05 million for the quarter, compared to analyst estimates of $50.15 million. On average, analysts forecast that Absolute Software will post -0.2 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in ABST. Shell Asset Management Co. boosted its stake in Absolute Software by 44.6% during the 4th quarter. Shell Asset Management Co. now owns 5,010 shares of the company’s stock valued at $47,000 after purchasing an additional 1,546 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Absolute Software in the 1st quarter worth approximately $49,000. National Bank of Canada FI acquired a new stake in shares of Absolute Software in the 4th quarter worth approximately $82,000. Versor Investments LP acquired a new stake in shares of Absolute Software in the 4th quarter worth approximately $98,000. Finally, PDT Partners LLC bought a new stake in shares of Absolute Software in the 4th quarter worth approximately $101,000. 65.08% of the stock is owned by institutional investors and hedge funds.

About Absolute Software (Get Rating)

Absolute Software Corporation develops, markets, and provides cloud-based endpoint visibility and control platform for the management and security of computing devices, applications, and data for enterprise and public sector organizations. The company offers the Absolute platform to provide the connectivity, visibility, and control of data and devices of the operating system; to recover automatically to a secure operational state without user intervention; to support various other security controls and productivity tools from decay and vulnerabilities; and to enable measurement of the health, compliance, and state of decay of endpoint security controls and productivity tools self-healing if the application becomes uninstalled or broken.

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