Zacks: Brokerages Anticipate Aspen Technology, Inc. (NASDAQ:AZPN) Will Announce Quarterly Sales of $119.53 Million
Brokerages predict that Aspen Technology, Inc. (NASDAQ:AZPN) will announce $119.53 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Aspen Technology’s earnings, with the lowest sales estimate coming in at $118.30 million and the highest estimate coming in at $121.00 million. Aspen Technology reported sales of $113.68 million during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The firm is expected to report its next earnings report after the market closes 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 expect that the business will report sales of $492.18 million per share, with estimates ranging from $489.90 million to $497.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Aspen Technology.
Aspen Technology (NASDAQ:AZPN) last announced its earnings results on Tuesday, May 2nd. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. The business had revenue of $119.28 million during the quarter, compared to analysts’ expectations of $117.64 million. Aspen Technology had a net margin of 29.85% and a negative return on equity of 80.54%.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Aspen Technology from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, May 5th. Wedbush reiterated a “neutral” rating and issued a $59.00 target price on shares of Aspen Technology in a report on Wednesday, June 28th. BidaskClub downgraded shares of Aspen Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Canaccord Genuity reiterated a “hold” rating and issued a $60.00 target price on shares of Aspen Technology in a report on Friday, June 9th. Finally, Robert W. Baird assumed coverage on shares of Aspen Technology in a report on Wednesday, May 10th. They issued a “neutral” rating and a $63.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Aspen Technology has an average rating of “Hold” and a consensus price target of $60.29.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AZPN. HL Financial Services LLC increased its position in Aspen Technology by 0.8% in the first quarter. HL Financial Services LLC now owns 4,257 shares of the technology company’s stock valued at $251,000 after buying an additional 33 shares during the period. Stephens Inc. AR increased its position in Aspen Technology by 1.0% in the first quarter. Stephens Inc. AR now owns 7,820 shares of the technology company’s stock valued at $461,000 after buying an additional 74 shares during the period. Comerica Bank increased its position in Aspen Technology by 6.4% in the first quarter. Comerica Bank now owns 4,302 shares of the technology company’s stock valued at $266,000 after buying an additional 259 shares during the period. 1st Global Advisors Inc. increased its position in Aspen Technology by 2.2% in the first quarter. 1st Global Advisors Inc. now owns 13,070 shares of the technology company’s stock valued at $770,000 after buying an additional 285 shares during the period. Finally, HighTower Advisors LLC increased its position in Aspen Technology by 9.9% in the first quarter. HighTower Advisors LLC now owns 5,535 shares of the technology company’s stock valued at $329,000 after buying an additional 498 shares during the period.
Aspen Technology (NASDAQ AZPN) traded up 0.061% on Thursday, reaching $57.425. 79,190 shares of the company traded hands. The company has a 50-day moving average price of $56.44 and a 200-day moving average price of $57.66. The company has a market capitalization of $4.28 billion, a P/E ratio of 31.938 and a beta of 1.28. Aspen Technology has a 12 month low of $41.03 and a 12 month high of $64.34.
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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