Canaccord Genuity Keeps a Hold Rating on Absolute Software

By Jason Carr

Absolute Software (TSX: ABT), the Technology company, was revisited by a Wall Street analyst yesterday. Canaccord Genuity’s analyst Doug Taylor reiterates their Hold rating on the shares, with a C$8 price target.

Taylor has an average return of 9.6% when recommending Absolute Software.

According to TipRanks.com, Taylor is ranked #464 out of 4627 analysts.

Absolute Software has an analyst consensus of Moderate Buy, with a price target consensus of C$9.

Based on Absolute Software’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$30.56 million and GAAP net loss of C$299.7K. In comparison, last year the company earned revenue of C$28.38 million and had a GAAP net loss of C$1.57 million.

Absolute Software Corp. provides endpoint security and data risk management solutions to commercial, healthcare, education and government customers. It provides solutions for computer security monitoring and endpoint management industry.

The company’s shares closed on Thursday at C$7.99, close to its 52-week high of C$8.36.