Yesterday, Absolute Software reported its Q1, 2015 results. The company earned (US) $305,169 on total sales contracts of $26.1-million, a 10% bump over last year’s first quarter topline.
“Operationally, we’re executing on our committed fiscal 2015 course of action and tightening our focus throughout the business,” said CEO Haydon. “We have narrowed our sights on select industry vertical markets and geographic regions. As part of this focus, we will be launching an initiative to drive increased awareness in those chosen target verticals. Within our sales organization, we have taken steps to focus incentives and align our structure to unlock further potential and to drive more productive new business development. Looking forward, we believe we are on track to achieve our financial and operational goals for fiscal 2015.”
Leung says that while it is still early days, Haydon seems to making progress in the above areas. He says the company’s booking were in line with his expectations, but that its cash flow per share of $0.20 bested his estimate of $0.16.
In a research update to clients this morning, Leung maintained his “Buy” rating and one-year target of $10.00 on Absolute Software, implying a return of 43% at the time of publication. The analyst says his thesis on Absolute Software “…is largely predicated on our view of the company’s status as a high probability takeout target, particularly given Crescendo Partners election to the Board”.
At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
Following the company's fourth quarter results, Eight Capital analyst Kiran Sritharan has maintained his "Buy" rating on Sabio Holdings (Sabio… [Read More]
Following the company's first quarter results, Desjardins analyst Benoit Poirier has raised his price target on Bombardier (Bombardier Stock Quote,… [Read More]
Following fourth quarter results he describes as "stronger than expected", Beacon Securities analyst Russell Stanley has raised his price target… [Read More]