Aspen Technology, Inc. (NASDAQ:AZPN) Receives $253.00 Average Target Price from Brokerages

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $253.00.

A number of research analysts have recently weighed in on the company. Loop Capital raised their price objective on Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird raised their price objective on Aspen Technology from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Bank of America raised their price objective on Aspen Technology from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. StockNews.com initiated coverage on Aspen Technology in a research report on Saturday. They set a “hold” rating for the company. Finally, Piper Sandler lifted their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th.

Aspen Technology Stock Down 0.7 %

NASDAQ:AZPN opened at $248.34 on Friday. The business’s 50-day simple moving average is $240.69 and its two-hundred day simple moving average is $219.38. The stock has a market cap of $15.71 billion, a PE ratio of -428.17, a P/E/G ratio of 2.85 and a beta of 0.76. Aspen Technology has a 52 week low of $171.25 and a 52 week high of $254.04.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54). The firm had revenue of $215.90 million for the quarter, compared to analysts’ expectations of $265.04 million. Aspen Technology had a negative net margin of 3.26% and a positive return on equity of 2.81%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. Sell-side analysts anticipate that Aspen Technology will post 6.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AZPN. B. Riley Wealth Advisors Inc. grew its position in Aspen Technology by 89.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,114 shares of the technology company’s stock worth $432,000 after acquiring an additional 998 shares in the last quarter. Tidal Investments LLC lifted its stake in Aspen Technology by 53.4% in the first quarter. Tidal Investments LLC now owns 1,691 shares of the technology company’s stock worth $361,000 after purchasing an additional 589 shares during the last quarter. Cetera Advisors LLC bought a new stake in Aspen Technology in the first quarter worth about $262,000. DekaBank Deutsche Girozentrale lifted its stake in Aspen Technology by 1,034.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 38,445 shares of the technology company’s stock worth $7,895,000 after purchasing an additional 35,056 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Aspen Technology by 65.7% in the second quarter. GAMMA Investing LLC now owns 174 shares of the technology company’s stock worth $35,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 45.66% of the company’s stock.

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.