10.52
price up icon0.67%   +0.07
after-market  After Hours:  10.51  -0.010   -0.10%
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Why is American Software Inc. (AMSWA) Stock down?

We've noticed a 5.86% decline in American Software Inc. (AMSWA) stock during the 2024-04-12 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
17 Nov, 2023:

Shares of American Software (AMSWA) dropped by 9.02% from $10.98 to $9.99 in the trading on Friday, Novemeber 17, 2023. The reason why AMSWA is down today is due to the company's recent financial results, guidance announcement and a cut in price target.

  • Q2 Fiscal 2024 Results: American Software reported second-quarter fiscal 2024 non-GAAP earnings of 8 cents per share, meeting the Zacks Consensus Estimate. However, this represented an 11.1% drop in earnings compared to the previous year. Revenues for the quarter were $25.7 million, reflecting a 5.8% year-over-year decrease and falling short of the consensus estimate by 4.12%.
  • Guidance: American Software provided fiscal 2024 revenue guidance in the range of $100 million to $104 million, significantly below the Zacks Consensus Estimate of $180 million. Total recurring revenues for the fiscal year are expected to fall between $85 million and $88 million, with adjusted EBITDA in the range of $14.5 million to $16 million.
  • Analyst Perspective: B. Riley Securities lowered its price target on the stock from $17 to $16 following these results. The stock price decline likely reflects investor concerns about the company's financial performance and outlook, particularly the lower-than-expected revenue guidance for fiscal 2024.
16 Nov, 2023:

Shares of American Software (AMSWA) dropped by 9.02% from $10.98 to $9.99 in the trading on Friday, Novemeber 17, 2023. The reason why AMSWA is down today is due to the company's recent financial results, guidance announcement and a cut in price target.

  • Q2 Fiscal 2024 Results: American Software reported second-quarter fiscal 2024 non-GAAP earnings of 8 cents per share, meeting the Zacks Consensus Estimate. However, this represented an 11.1% drop in earnings compared to the previous year. Revenues for the quarter were $25.7 million, reflecting a 5.8% year-over-year decrease and falling short of the consensus estimate by 4.12%.
  • Guidance: American Software provided fiscal 2024 revenue guidance in the range of $100 million to $104 million, significantly below the Zacks Consensus Estimate of $180 million. Total recurring revenues for the fiscal year are expected to fall between $85 million and $88 million, with adjusted EBITDA in the range of $14.5 million to $16 million.
  • Analyst Perspective: B. Riley Securities lowered its price target on the stock from $17 to $16 following these results. The stock price decline likely reflects investor concerns about the company's financial performance and outlook, particularly the lower-than-expected revenue guidance for fiscal 2024.
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