Aspen Technology (NASDAQ:AZPN) Updates FY24 Earnings Guidance

Aspen Technology (NASDAQ:AZPN) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Analyst Ratings Changes

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

Aspen Technology Stock Up 4.8 %

AZPN traded up $9.02 on Wednesday, reaching $197.79. 690,061 shares of the company traded hands, compared to its average volume of 211,532. Aspen Technology has a one year low of $161.32 and a one year high of $224.77. The firm has a fifty day simple moving average of $202.53 and a two-hundred day simple moving average of $196.45. The company has a market cap of $12.57 billion, a P/E ratio of -146.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last posted its earnings results on Tuesday, February 6th. The technology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $257.16 million for the quarter, compared to analysts’ expectations of $259.70 million. On average, equities analysts forecast that Aspen Technology will post 5.82 earnings per share for the current year.

About Aspen Technology

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.