Absolute Software Co. (ABT) Trading Down 1.7% After Analyst Downgrade

Shares of Absolute Software Co. (TSE:ABT) dropped 1.7% during mid-day trading on Tuesday after National Bank Financial lowered their price target on the stock from C$8.00 to C$7.00. National Bank Financial currently has a sector perform rating on the stock. Absolute Software traded as low as C$8.05 and last traded at C$8.05. Approximately 48,445 shares were traded during trading, a decline of 26% from the average daily volume of 65,140 shares. The stock had previously closed at C$8.19.

ABT has been the topic of a number of other reports. Canaccord Genuity cut Absolute Software from a “buy” rating to a “hold” rating and lowered their price target for the company from C$9.00 to C$8.00 in a research report on Friday, August 18th. Pi Financial lowered their price target on Absolute Software from C$9.00 to C$8.75 in a research report on Friday, August 18th. BMO Capital Markets reiterated a “market perform” rating and issued a C$8.50 price target on shares of Absolute Software in a research report on Friday, August 18th. Finally, TD Securities lowered their price target on Absolute Software from C$8.00 to C$7.00 in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Absolute Software currently has a consensus rating of “Hold” and a consensus target price of C$7.71.

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Absolute Software Company Profile

Absolute Software Corporation is engaged in the development, marketing and support of endpoint security and data risk management solutions to commercial, healthcare, education and government customers. The Company operates through Data and Device Security segment. The Company offers solutions for devices, such as computers, laptops, tablets and smartphones.

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