What Happened:
Shares of online payroll and human resource software provider Asure (NASDAQ:ASUR) jumped 9.21% in the after-market session after the company reported a "beat and raise" quarter, with Q1 results exceeding analysts' revenue, operating profits, gross margin, and earnings per share estimates. Revenue guidance for the next quarter also came in above Consensus, and the company lifted the full-year revenue outlook. Despite macro-related challenges, such as growing layoffs that could affect the adoption and usage of HR platforms, the company has executed strongly, delivering an impressive quarter.
What is the market telling us:
Asure Software's shares are not very volatile than the market average and over the last year have had only 21 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Asure Software is up 50.2% since the beginning of the year, but at $14.25 per share it is still trading 15.3% below its 52-week high of $16.83 from April 2023. Investors who bought $1,000 worth of Asure Software's shares 5 years ago would now be looking at an investment worth $849.23.
Is now the time to buy Asure Software? Access our full analysis of the earnings results here, it's free.