BMO Capital Sticks to Their Hold Rating for Absolute Software

By Austin Angelo

In a new note to investors yesterday, an analyst has provided a rating update for the Technology company, Absolute Software (TSX: ABT). Analyst Thanos Moschopoulos from BMO Capital remains neutral on the stock and has a C$7.50 price target.

According to TipRanks.com, Moschopoulos is a 4-star analyst with an average return of 6.7% and a 75.0% success rate. Moschopoulos covers the Technology sector, focusing on stocks such as CGI Group, Open Text, and Descartes.

Currently, the analyst consensus on Absolute Software is Hold and the average price target is C$7.50, representing a 6.1% upside.

In a report released today, Canaccord Genuity also maintained a Hold rating on the stock with a C$7.50 price target.

Based on Absolute Software’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$28.82 million and GAAP net loss of C$181K. In comparison, last year the company earned revenue of C$29.96 million and had a GAAP net loss of C$2.46 million.

Absolute Software Corp. engages in the provision of endpoint security and data risk management solutions to commercial, healthcare, education, and government customers. The firm operates through the following geographical segments: United States, Rest of the World, and Canada.

The company’s shares closed on Tuesday at C$7.07.