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Stock analysts at Pacific Crest raised their target price on shares of Aspen Technology (NASDAQ:AZPN) from $43.00 to $50.00 in a report issued on Friday, reports. Pacific Crest’s target price indicates a potential upside of 20.20% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Aspen Technology from $50.00 to $52.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Aspen Technology has an average rating of “Buy” and an average price target of $44.77.

Aspen Technology (NASDAQ:AZPN) traded up 9.55% during mid-day trading on Friday, hitting $45.57. 1,321,146 shares of the company’s stock traded hands. Aspen Technology has a 1-year low of $26.55 and a 1-year high of $46.01. The stock has a 50-day moving average of $41.78 and a 200-day moving average of $36.83. The company has a market cap of $4.238 billion and a P/E ratio of 71.72.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.08. The company had revenue of $98.80 million for the quarter, compared to the consensus estimate of $88.53 million. Analysts expect that Aspen Technology will post $0.72 EPS for the current fiscal year.

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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