Aspen Technology (NASDAQ:AZPN) Announces Quarterly Earnings Results

by · The Markets Daily

Aspen Technology (NASDAQ:AZPN – Get Free Report) issued its earnings results on Monday. The technology company reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.54), Briefing.com reports. The business had revenue of $215.90 million during the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a negative net margin of 0.87% and a positive return on equity of 2.96%. Aspen Technology’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Aspen Technology updated its FY25 guidance to $7.52 EPS.

Aspen Technology Trading Up 1.4 %

Aspen Technology stock traded up $3.33 during mid-day trading on Wednesday, hitting $244.33. 1,320,375 shares of the company’s stock were exchanged, compared to its average volume of 217,541. Aspen Technology has a 1-year low of $162.26 and a 1-year high of $248.00. The stock has a 50 day moving average of $233.69 and a two-hundred day moving average of $213.24. The stock has a market cap of $15.45 billion, a P/E ratio of -1,506.16, a P/E/G ratio of 2.73 and a beta of 0.76.

Analyst Ratings Changes

Several research firms have weighed in on AZPN. Loop Capital upped their price objective on shares of Aspen Technology from $204.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Robert W. Baird upped their price target on shares of Aspen Technology from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America lifted 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. Finally, Piper Sandler raised their price target on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

View Our Latest Report on AZPN

Insiders Place Their Bets

In other news, Director Jr. Robert M. Whelan sold 1,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $219.10, for a total transaction of $219,100.00. Following the transaction, the director now owns 8,540 shares of the company’s stock, valued at approximately $1,871,114. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

About Aspen Technology

(Get Free Report)

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.

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