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Research analysts at Canaccord Genuity increased their price objective on shares of Aspen Technology (NASDAQ:AZPN) from $42.00 to $50.00 in a report released on Friday, AnalystRatings.NET reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective indicates a potential upside of 17.23% from the company’s current price.

Aspen Technology (NASDAQ:AZPN) traded down 0.40% during mid-day trading on Friday, hitting $42.48. The stock had a trading volume of 603,011 shares. Aspen Technology has a 1-year low of $26.55 and a 1-year high of $43.04. The stock’s 50-day moving average is $40.98 and its 200-day moving average is $36.04. The company has a market cap of $3.951 billion and a price-to-earnings ratio of 73.53.

Aspen Technology (NASDAQ:AZPN) last released its earnings data on Tuesday, October 29th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.04. The company had revenue of $87.57 million for the quarter, compared to the consensus estimate of $85.01 million. During the same quarter last year, the company posted $0.05 earnings per share. Aspen Technology’s revenue was up 22.5% compared to the same quarter last year. Analysts expect that Aspen Technology will post $0.72 EPS for the current fiscal year.

AZPN has been the subject of a number of other recent research reports. Analysts at Cross Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, November 19th. Separately, analysts at Cowen and Company raised their price target on shares of Aspen Technology from $38.00 to $42.00 in a research note to investors on Friday, November 8th. They now have an “outperform” rating on the stock. Finally, analysts at UBS AG upgraded shares of Aspen Technology to a “buy” rating in a research note to investors on Friday, November 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $41.10.

Aspen Technology, Inc, is a provider of process optimization software solutions. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, engineering and construction industries.

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