Azenta (NASDAQ:AZTA) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Azenta (NASDAQ:AZTA) released its quarterly earnings data on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03, Briefing.com reports. The business had revenue of $159.13 million during the quarter, compared to analyst estimates of $159.89 million. Azenta had a negative net margin of 2.92% and a positive return on equity of 0.49%. Azenta’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.06) EPS. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Price Performance

Shares of AZTA stock traded down $2.10 during trading hours on Thursday, reaching $51.97. 821,669 shares of the company were exchanged, compared to its average volume of 435,119. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $69.16. The stock’s fifty day moving average is $57.68 and its two-hundred day moving average is $59.22. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -165.58 and a beta of 1.51.

Wall Street Analysts Forecast Growth

AZTA has been the subject of a number of research analyst reports. B. Riley boosted their target price on shares of Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Jefferies Financial Group started coverage on shares of Azenta in a research note on Thursday, April 4th. They issued a “hold” rating and a $64.00 target price on the stock. Needham & Company LLC lowered their target price on shares of Azenta from $75.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday. Stephens reissued an “equal weight” rating and issued a $70.00 target price on shares of Azenta in a research note on Thursday, February 8th. Finally, Evercore ISI decreased their price objective on shares of Azenta from $64.00 to $60.00 and set an “in-line” rating on the stock in a research note on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.40.

About Azenta

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.