A2Z Cust2Mate Solutions (NASDAQ:AZ) Announces Quarterly Earnings Results, Misses Estimates By $0.32 EPS

A2Z Cust2Mate Solutions (NASDAQ:AZ - Get Free Report) posted its earnings results on Wednesday, April 1st. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.32), Zacks reports. The company had revenue of $3.65 million for the quarter, compared to analysts' expectations of $4.63 million. A2Z Cust2Mate Solutions had a negative net margin of 466.81% and a negative return on equity of 71.13%.

A2Z Cust2Mate Solutions Stock Performance

Shares of NASDAQ AZ opened at $7.59 on Monday. The firm's 50-day moving average price is $6.53 and its 200-day moving average price is $6.56. The stock has a market capitalization of $338.06 million, a price-to-earnings ratio of -7.37 and a beta of 1.23. A2Z Cust2Mate Solutions has a 12-month low of $5.00 and a 12-month high of $12.36.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Northland Securities initiated coverage on shares of A2Z Cust2Mate Solutions in a report on Friday, March 27th. They set an "outperform" rating and a $15.00 price objective for the company. Zacks Research raised A2Z Cust2Mate Solutions to a "hold" rating in a report on Monday, March 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of A2Z Cust2Mate Solutions in a research report on Monday, April 20th. Benchmark reissued a "buy" rating on shares of A2Z Cust2Mate Solutions in a research note on Monday, January 5th. Finally, Wall Street Zen raised A2Z Cust2Mate Solutions from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $15.00.

A2Z Cust2Mate Solutions announced that its board has authorized a share repurchase program on Wednesday, January 7th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZ. Alyeska Investment Group L.P. raised its position in A2Z Cust2Mate Solutions by 110.4% during the third quarter. Alyeska Investment Group L.P. now owns 2,000,987 shares of the company's stock valued at $15,988,000 after purchasing an additional 1,050,000 shares during the period. Shay Capital LLC boosted its holdings in shares of A2Z Cust2Mate Solutions by 133.6% in the 3rd quarter. Shay Capital LLC now owns 1,600,000 shares of the company's stock worth $12,784,000 after purchasing an additional 915,000 shares during the period. Private Advisor Group LLC boosted its holdings in shares of A2Z Cust2Mate Solutions by 331.3% in the 4th quarter. Private Advisor Group LLC now owns 862,765 shares of the company's stock worth $5,617,000 after purchasing an additional 662,718 shares during the period. Jain Global LLC bought a new position in shares of A2Z Cust2Mate Solutions during the 3rd quarter valued at approximately $2,617,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of A2Z Cust2Mate Solutions during the 3rd quarter valued at approximately $2,490,000. Hedge funds and other institutional investors own 12.64% of the company's stock.

About A2Z Cust2Mate Solutions

A2Z Smart Technologies Corp., a technology company, focuses on the development and commercialization of retail smart cart solutions for grocery stores and supermarkets in Israel and internationally. The company operates through three segments: Precision Metal Parts, Advanced Engineering, and Smart Carts. It offers Cust2Mate system, which incorporates a smart cart that automatically calculates the value of the customers purchases in their smart cart without having to unload and reload their purchases at a customer checkout point.