Asure Software Inc. ASUR shares rallied 13.7% in the last trading session to close at $11.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 10.9% gain over the past four weeks.

The upswing came after Lake Street analyst Eric Martinuzzi upgraded the stock's rating from Hold to Buy and raised the price target from $9 to $13.

Asure Software’s strategic initiative to become a pure software-as-a-service HCM company is aiding its top-line growth.  The company’s focus on driving innovation for its HCM solutions is helping it expand its footprint in the HCM market. New client additions and a continued focus on cross-selling to existing clients are driving Asure Software’s revenues.

This company is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of +142.9%. Revenues are expected to be $30.89 million, up 17.6% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Asure Software, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ASUR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Asure Software is part of the Zacks Internet - Delivery Services industry. Vipshop Holdings Limited VIPS, another stock in the same industry, closed the last trading session 1.5% lower at $13. VIPS has returned -9.7% in the past month.

For Vipshop , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.72. This represents a change of -12.2% from what the company reported a year ago. Vipshop currently has a Zacks Rank of #3 (Hold).

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