Asure Software shares are trading lower after the company reported Q3 financial results and issued Q4 and FY24 revenue guidance below estimates. Also, Lake Street downgraded the stock from Buy to Hold and Stifel lowered its price target from $15 to $12.
Portfolio Pulse from Benzinga Newsdesk
Asure Software's stock is trading lower following the release of their Q3 financial results, which included Q4 and FY24 revenue guidance that fell short of expectations. Additionally, Lake Street downgraded Asure Software from Buy to Hold, and Stifel reduced its price target for the company from $15 to $12.
November 14, 2023 | 7:18 pm
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NEGATIVE IMPACT
Asure Software's stock price is likely to experience downward pressure in the short term due to the reported Q3 financial results with weaker revenue guidance and negative analyst actions including a downgrade and a price target reduction.
The combination of disappointing revenue guidance and negative sentiment from analysts typically leads to a decline in stock price. The downgrade from Lake Street and the price target cut from Stifel directly reflect lowered expectations and investor confidence, which are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100