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 EPS guidance of at least $6.29 for the period, compared to the consensus EPS 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

AZPN stock traded up $8.15 during trading on Thursday, reaching $205.94. The company had a trading volume of 441,402 shares, compared to its average volume of 212,500. Aspen Technology has a 52 week low of $161.32 and a 52 week high of $224.77. The company has a market cap of $13.09 billion, a P/E ratio of -151.72, a PEG ratio of 2.05 and a beta of 0.76. The business has a 50 day moving average of $202.53 and a 200 day moving average of $196.45.

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

Wall Street Analyst Weigh In

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

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.