ABST Stock Summary and Trading Ideas (Absolute Software | NASDAQ:ABST)

Absolute Software Corp is engaged in the development, marketing, and provision of a cloud-based endpoint visibility and control platform that provides management and security of computing devices. Geographically, it derives a majority of revenue from the United States and also has a presence in Canada and the Rest of world. It serves Education; Healthcare; Government; Professional Services and Financial Services. The company principally derives its revenues from two sources: subscription and support revenues.

Absolute Software trades on the NASDAQ stock market under the symbol ABST.

As of March 27, 2023, ABST stock price declined to $7.50 with 11,122 million shares trading.

ABST has a beta of 0.69, meaning it tends to be less sensitive to market movements. ABST has a correlation of 0.09 to the broad based SPY ETF.

ABST has a market cap of $373.65 million. This is considered a Small Cap stock.

Last quarter Absolute Software reported $57 million in Revenue and $.05 earnings per share. This fell short of revenue expectation by $-3 million and missed earnings estimates by -$.04.

The top ETF exchange traded funds that ABST belongs to (by Net Assets): DFIS, DFAI, DFIC, DFSI.

ABST has outperformed the market in the last year with a return of -7.5%, while the SPY ETF lost -10.7%. However, in the most recent history, ABST shares have underperformed the stock market with its stock returning -22.6% in the last 3 month period and -6.4% for the last 2 week period, while SPY has returned +3.8% and +3.0%, respectively.

ABST support price is $7.36 and resistance is $7.74 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ABST stock will trade within this expected range on the day.