Absolute Software program Company (ABST) got here out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to earnings of $0.05 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 166.67%. 1 / 4 in the past, it was anticipated that this firm would publish earnings of $0.06 per share when it truly produced earnings of $0.04, delivering a shock of -33.33%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates simply as soon as.
Absolute Software program Company, which belongs to the Zacks Safety business, posted revenues of $31.eight million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 4.78%. This compares to year-ago revenues of $27.16 million. The corporate has topped consensus income estimates 3 times during the last 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Absolute Software program Company shares have added about 17.5% for the reason that starting of the 12 months versus the S&P 500’s achieve of 18%.
What’s Subsequent for Absolute Software program Company?
Whereas Absolute Software program Company has underperformed the market to this point this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and traits in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Absolute Software program Company was combined. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in step with the market within the close to future. You may see the entire listing of at this time’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.10 on $32 million in revenues for the approaching quarter and $0.35 on $133.65 million in revenues for the present fiscal 12 months.
Buyers must be conscious of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as effectively. By way of the Zacks Trade Rank, Safety is presently within the prime 36% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Absolute Software program Company (ABST): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.