Aspen Technology (NASDAQ:AZPN) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Aspen Technology (NASDAQ:AZPN) announced its earnings results on Tuesday. The technology company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.85 by $0.03, Zacks reports. Aspen Technology had a positive return on equity of 2.81% and a negative net margin of 3.26%.

Aspen Technology Stock Down 0.1 %

Shares of AZPN stock traded down $0.23 during mid-day trading on Tuesday, reaching $263.97. The stock had a trading volume of 246,629 shares, compared to its average volume of 614,016. The firm’s 50 day simple moving average is $252.23 and its 200 day simple moving average is $234.64. Aspen Technology has a one year low of $171.25 and a one year high of $265.05. The firm has a market cap of $16.70 billion, a PE ratio of -455.12, a P/E/G ratio of 3.00 and a beta of 0.76.

Wall Street Analysts Forecast Growth

AZPN has been the subject of several analyst reports. Robert W. Baird reaffirmed a “neutral” rating and set a $265.00 target price (down from $275.00) on shares of Aspen Technology in a report on Monday, January 27th. Berenberg Bank lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. StockNews.com assumed coverage on Aspen Technology in a research report on Sunday. They issued a “hold” rating on the stock. Baird R W lowered Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Finally, Piper Sandler increased their price objective on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Technology has a consensus rating of “Hold” and a consensus price target of $261.00.

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.