Aspen Technology (AZPN) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Aspen Technology (NASDAQ:AZPN) announced its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.10, Stock Ratings Network.com reports. The company had revenue of $101.50 million for the quarter, compared to the consensus estimate of $96.61 million.
Aspen Technology (NASDAQ:AZPN) traded up 0.33% on Wednesday, hitting $45.90. 814,223 shares of the company’s stock traded hands. Aspen Technology has a one year low of $31.29 and a one year high of $48.39. The stock has a 50-day moving average of $45.33 and a 200-day moving average of $44.21. The company has a market cap of $4.226 billion and a price-to-earnings ratio of 54.46.
A number of analysts have recently weighed in on AZPN shares. Analysts at Zacks downgraded shares of Aspen Technology from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $50.60 price target on the stock. Analysts at Summit Research downgraded shares of Aspen Technology from a “buy” rating to a “hold” rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.52.
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.
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