Equities research analysts predict that Aspen Technology, Inc. (NASDAQ:AZPN) will announce $119.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Aspen Technology’s earnings. The highest sales estimate is $121.00 million and the lowest is $118.30 million. Aspen Technology reported sales of $113.68 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The firm is scheduled to report its next earnings results on Thursday, August 10th.
On average, analysts expect that Aspen Technology will report full year sales of $119.53 million for the current fiscal year, with estimates ranging from $477.60 million to $480.20 million. For the next year, analysts anticipate that the firm will post sales of $492.18 million per share, with estimates ranging from $489.90 million to $497.50 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 2nd. The technology company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.09. Aspen Technology had a negative return on equity of 80.54% and a net margin of 29.85%. The business had revenue of $119.28 million for the quarter, compared to analyst estimates of $117.64 million.
Several research analysts have issued reports on AZPN shares. Zacks Investment Research lowered Aspen Technology from a “buy” rating to a “hold” rating in a report on Wednesday, March 29th. Benchmark Co. reiterated a “hold” rating and issued a $55.00 price target (up previously from $48.00) on shares of Aspen Technology in a report on Wednesday, May 3rd. Robert W. Baird assumed coverage on Aspen Technology in a report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 price target on the stock. Canaccord Genuity restated a “hold” rating and issued a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Finally, Wedbush restated a “neutral” rating and issued a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Aspen Technology currently has a consensus rating of “Hold” and a consensus target price of $60.29.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in Aspen Technology by 27.0% in the first quarter. Acadian Asset Management LLC now owns 62,469 shares of the technology company’s stock worth $3,681,000 after buying an additional 13,295 shares in the last quarter. Teachers Advisors LLC raised its position in Aspen Technology by 28.0% in the fourth quarter. Teachers Advisors LLC now owns 173,622 shares of the technology company’s stock worth $9,494,000 after buying an additional 37,963 shares in the last quarter. Norges Bank acquired a new stake in shares of Aspen Technology during the fourth quarter worth approximately $36,470,000. Putnam Investments LLC increased its stake in shares of Aspen Technology by 1.7% in the fourth quarter. Putnam Investments LLC now owns 21,982 shares of the technology company’s stock worth $1,202,000 after buying an additional 361 shares during the last quarter. Finally, Numeric Investors LLC increased its stake in shares of Aspen Technology by 30.5% in the fourth quarter. Numeric Investors LLC now owns 100,598 shares of the technology company’s stock worth $5,501,000 after buying an additional 23,500 shares during the last quarter.
Shares of Aspen Technology (NASDAQ AZPN) traded down 0.38% during midday trading on Friday, reaching $55.05. The company had a trading volume of 208,356 shares. Aspen Technology has a 12-month low of $38.57 and a 12-month high of $64.34. The stock’s 50 day moving average is $58.34 and its 200-day moving average is $57.44. The stock has a market capitalization of $4.10 billion, a PE ratio of 30.62 and a beta of 1.28.
Aspen Technology Company Profile
Aspen Technology, Inc is a global provider of process optimization software solutions designed to manage and optimize plant and process design, operational performance, and supply chain planning. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, and engineering and construction industries.
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