Aspen Technology, Inc. (NASDAQ:AZPN) Receives $258.00 Consensus Target Price from Brokerages

Aspen Technology, Inc. (NASDAQ:AZPN) has been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $258.00.

Several equities research analysts have recently weighed in on AZPN shares. StockNews.com started coverage on shares of Aspen Technology in a research report on Tuesday, December 24th. They issued a “hold” rating for the company. Berenberg Bank cut Aspen Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler lifted their target price on Aspen Technology from $217.00 to $240.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Bank of America upped their price target 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, Loop Capital boosted their target price 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.

Hedge Funds Weigh In On Aspen Technology

Several institutional investors have recently modified their holdings of the company. Tortoise Investment Management LLC increased its position in Aspen Technology by 77.8% in the 2nd quarter. Tortoise Investment Management LLC now owns 128 shares of the technology company’s stock valued at $25,000 after acquiring an additional 56 shares during the period. Crewe Advisors LLC raised its stake in shares of Aspen Technology by 313.2% during the second quarter. Crewe Advisors LLC now owns 157 shares of the technology company’s stock valued at $31,000 after purchasing an additional 119 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Aspen Technology in the second quarter worth about $37,000. Quent Capital LLC grew its position in Aspen Technology by 364.9% in the 3rd quarter. Quent Capital LLC now owns 172 shares of the technology company’s stock valued at $41,000 after buying an additional 135 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Aspen Technology during the 3rd quarter valued at about $48,000. Institutional investors own 45.66% of the company’s stock.

Aspen Technology Stock Up 0.2 %

Shares of NASDAQ AZPN opened at $251.06 on Wednesday. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $254.44. The business has a 50 day moving average price of $246.22 and a two-hundred day moving average price of $224.44. The firm has a market cap of $15.88 billion, a PE ratio of -432.86, a price-to-earnings-growth ratio of 2.89 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last released its quarterly earnings results 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 company had revenue of $215.90 million for the quarter, compared to analyst estimates of $265.04 million. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. On average, analysts anticipate that Aspen Technology will post 6.68 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.