Aspen Technology (NASDAQ:AZPN) Issues FY24 Earnings Guidance

Aspen Technology (NASDAQ:AZPN) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of at least $6.29 for the period, compared to the consensus earnings per share estimate of $6.60. The company issued revenue guidance of at least $1.10 billion, compared to the consensus revenue estimate of $1.13 billion.

Aspen Technology Price Performance

Shares of Aspen Technology stock traded up $9.02 during trading hours on Wednesday, reaching $197.79. The company had a trading volume of 690,061 shares, compared to its average volume of 211,532. The business has a fifty day simple moving average of $202.53 and a 200 day simple moving average of $196.45. The firm has a market cap of $12.57 billion, a PE ratio of -146.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. Aspen Technology has a one year low of $161.32 and a one year high of $224.77.

Aspen Technology (NASDAQ:AZPN) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The company had revenue of $257.16 million for the quarter, compared to the consensus estimate of $259.70 million. On average, research analysts forecast that Aspen Technology will post 5.82 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on AZPN. StockNews.com upgraded shares of Aspen Technology from a sell rating to a hold rating in a research note on Wednesday, February 7th. Robert W. Baird cut their price objective on Aspen Technology from $225.00 to $210.00 and set an outperform rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their price objective on shares of Aspen Technology from $196.00 to $180.00 and set a neutral rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Aspen Technology has a consensus rating of Hold and an average target price of $201.00.

Aspen Technology Company Profile

Aspen Technology, Inc provides industrial software that focuses on helping customers in asset-intensive industries worldwide. The company's solutions address complex environments where it is critical to optimize the asset design, operation, and maintenance lifecycle. Its software is used in performance engineering, modeling and design, supply chain management, predictive and prescriptive maintenance, digital grid management, and industrial data management.