Aspen Technology (NASDAQ:AZPN) Updates FY24 Earnings Guidance

Aspen Technology (NASDAQ:AZPN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $6.29 for the period, compared to the consensus EPS estimate of $6.60. The company issued revenue guidance of at least $1.10 billion, compared to the consensus revenue estimate of $1.13 billion.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AZPN shares. StockNews.com raised Aspen Technology from a sell rating to a hold rating in a research note on Wednesday, February 7th. Piper Sandler cut their price objective on Aspen Technology from $196.00 to $180.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Robert W. Baird cut their price target on shares of Aspen Technology from $225.00 to $210.00 and set an outperform rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Aspen Technology has a consensus rating of Hold and a consensus price target of $201.00.

Aspen Technology Trading Up 0.7 %

NASDAQ:AZPN traded up $1.47 during trading hours on Friday, hitting $207.41. The stock had a trading volume of 162,223 shares, compared to its average volume of 213,471. The company has a market cap of $13.18 billion, a PE ratio of -152.55, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The business has a 50 day simple moving average of $202.77 and a two-hundred day simple moving average of $196.51. Aspen Technology has a 1-year low of $161.32 and a 1-year high of $224.77.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The company had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Research analysts expect that Aspen Technology will post 5.82 EPS for the current fiscal year.

About Aspen Technology

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.