Aspen Technology (NASDAQ:AZPN) released its FY2023 earnings forecast

Aspen Technology (NASDAQ:AZPN – Get Rating ) issued updated fiscal 2023 earnings estimates on Monday morning. The company provided EPS estimates of $6.40-$6.89 for the period, compared to the consensus estimate of $5.86. The company posted revenue estimates of $1.14 billion to $1.20 billion, compared to the consensus estimate for revenue of $977.65 million.

Aspen Technology Trading rose by 1.6%

AZPN stock opened at $216.39 on Monday. The stock has a 50-day simple moving average of $193.44 and a 200-day simple moving average of $171.11. The stock has a market cap of $14.03 billion, a P/E ratio of 57.70, a P/E/G ratio of 2.08 and a beta of 1.21. The company has a quick ratio of 4.07, a current ratio of 3.47, and a debt-to-equity ratio of 0.02. Aspen Technology has a fifty-two week low of $122.29 and a fifty-two week high of $218.96.

Aspen Technology (NASDAQ:AZPN – Get Rating ) last released its quarterly earnings data on Monday, August 8th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.36. Aspen Technology had a net margin of 31.82% and a return on equity of 8.23%. The firm had revenue of $238.90 million during the quarter, compared to analysts’ expectations of $293.17 million. During the same period last year, the company posted earnings per share of $1.43. Aspen Technology’s revenue for the quarter was up 20.7% compared to the same period last year. sell-side analysts expect that Aspen Technology will post 5.72 earnings per share for the current fiscal year.

Changes in analysts’ ratings

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Several brokerages have issued reports on AZPN. StockNews.com upgraded shares of Aspen Technology from a sell rating to a hold rating in a report on Tuesday, July 12th. Bank of America upped their target price on Aspen Technology from $176.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, June 6th. Loop Capital boosted their price objective on Aspen Technology from $175 to $225 and gave the company a buy rating in a report on Wednesday, June 15th. Piper Sandler boosted their target price on shares of Aspen Technology from $159.00 to $189.00 and gave the company a neutral rating in a research report on Tuesday, June 28th. Finally, KeyCorp boosted their target price on shares of Aspen Technology from $175.00 to $210.00 and gave the company an outperform rating in a research note on Friday, July 8th. Three analysts have rated the stock with a “hold” rating and three have assigned a “buy” rating to the company. The company presently has a consensus rating of “Moderate Buy” and an average target price of $203.20, according to MarketBeat.

Institutional investors value Aspen’s technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in Aspen Technology in the first quarter valued at about $620,000. Gabelli Funds LLC raised its stake in Aspen Technology by 67.9% during the first quarter. Gabelli Funds LLC now owns 35,352 shares of the technology company’s stock valued at $5,846,000 after purchasing an additional 14,297 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Aspen Technology by 26.2% in the first quarter. Gamco Investors INC. ET AL now owns 7,700 shares of the technology company’s stock valued at $1,273,000 after acquiring an additional 1,600 shares in the last quarter. KB Financial Partners LLC raised its stake in Aspen Technology by 18.3% during the first quarter. KB Financial Partners LLC now owns 3,293 shares of the technology company’s stock valued at $545,000 after buying an additional 509 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Aspen Technology by 270.7% in the 1st quarter. Quantbot Technologies LP now owns 5,383 shares of the technology company’s stock valued at $890,000 after purchasing an additional 3,931 shares during the period. Institutional investors own 96.49% of the company’s shares.

Aspen Technology company profile

(Get rating)

Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring and asset optimization solutions worldwide. The company’s solutions address complex environments where it is critical to optimize asset design, operations and service life cycles. It serves bulk chemicals, consumer packaged goods, food and beverage, metals and mining, processing and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, exploration, water and wastewater; production, transmission and distribution of electricity; and engineering, supply and construction.

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Aspen Technology (NASDAQ:AZPN) Earnings History and Valuation

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