Azenta (NASDAQ:AZTA) Announces Quarterly Earnings Results

Azenta (NASDAQ:AZTA) issued its quarterly earnings data on Wednesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03, Briefing.com reports. Azenta had a negative net margin of 2.92% and a positive return on equity of 0.49%. The business had revenue of $159.13 million for the quarter, compared to analysts’ expectations of $159.89 million. During the same quarter last year, the company earned ($0.06) EPS. The business’s revenue was up 7.2% on a year-over-year basis. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Stock Down 4.0 %

AZTA stock traded down $2.16 during midday trading on Thursday, hitting $51.91. The company’s stock had a trading volume of 799,733 shares, compared to its average volume of 434,822. The firm has a 50-day simple moving average of $57.68 and a 200-day simple moving average of $59.22. The firm has a market capitalization of $2.89 billion, a P/E ratio of -165.58 and a beta of 1.51. Azenta has a 52-week low of $36.01 and a 52-week high of $69.16.

Wall Street Analysts Forecast Growth

AZTA has been the topic of several research analyst reports. Jefferies Financial Group started coverage on Azenta in a report on Thursday, April 4th. They issued a “hold” rating and a $64.00 price objective on the stock. Stephens restated an “equal weight” rating and set a $70.00 target price on shares of Azenta in a report on Thursday, February 8th. B. Riley increased their price target on Azenta from $61.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Needham & Company LLC lowered their price objective on Azenta from $75.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Evercore ISI cut their target price on Azenta from $64.00 to $60.00 and set an “in-line” rating for the company in a research note on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.40.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.