A2Z Cust2Mate Solutions (NASDAQ:AZ) Board Approves Share Buyback Program

A2Z Cust2Mate Solutions (NASDAQ:AZ) declared that its Board of Directors has approved a stock buyback program on Friday, March 27th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

A2Z Cust2Mate Solutions Price Performance

Shares of AZ stock opened at $6.59 on Monday. A2Z Cust2Mate Solutions has a 12 month low of $5.00 and a 12 month high of $12.36. The business’s 50 day moving average is $6.12 and its two-hundred day moving average is $6.61. The company has a market cap of $275.79 million, a PE ratio of -5.88 and a beta of 1.44.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AZ. Benchmark reaffirmed a “buy” rating on shares of A2Z Cust2Mate Solutions in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of A2Z Cust2Mate Solutions in a research report on Wednesday, January 21st. Finally, Northland Securities assumed coverage on A2Z Cust2Mate Solutions in a report on Friday. They set an “outperform” rating and a $15.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, A2Z Cust2Mate Solutions has an average rating of “Hold” and a consensus target price of $15.00.

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.