Aspen Technology Downgraded to Hold at Summit Research (AZPN)
Aspen Technology (NASDAQ:AZPN) was downgraded by equities research analysts at Summit Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.
Shares of Aspen Technology (NASDAQ:AZPN) traded up 0.53% on Monday, hitting $45.12. 222,158 shares of the company’s stock traded hands. Aspen Technology has a 1-year low of $28.35 and a 1-year high of $48.39. The stock’s 50-day moving average is $41.73 and its 200-day moving average is $42.10. The company has a market cap of $4.154 billion and a price-to-earnings ratio of 53.43.
Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.09. The company had revenue of $103.60 million for the quarter, compared to the consensus estimate of $92.82 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 30.5% on a year-over-year basis. Analysts expect that Aspen Technology will post $0.95 EPS for the current fiscal year.
Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Aspen Technology in a research note on Wednesday, April 30th. They now have a $46.50 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $46.18.
Aspen Technology, Inc is a global provider of process optimization software solutions, which are designed to manage and optimize plant and process design, operational performance, and supply chain planning.
To view Summit Research’s full report, visit Summit Research’s official website.
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