Aspen Technology (NASDAQ:AZPN) Posts Earnings Results

Aspen Technology (NASDAQ:AZPN) announced its earnings results on Tuesday. The technology company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Performance

Shares of NASDAQ:AZPN traded down $0.23 on Tuesday, hitting $263.97. The company’s stock had a trading volume of 246,629 shares, compared to its average volume of 614,016. Aspen Technology has a 12 month low of $171.25 and a 12 month high of $265.05. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of -455.12, a price-to-earnings-growth ratio of 3.00 and a beta of 0.76. The stock’s 50-day moving average is $252.23 and its two-hundred day moving average is $234.64.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AZPN. Baird R W downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Monday, January 27th. Piper Sandler boosted their price target on Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Berenberg Bank downgraded Aspen Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. StockNews.com began coverage on Aspen Technology in a report on Sunday. They issued a “hold” rating for the company. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $265.00 price target (down from $275.00) on shares of Aspen Technology 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $261.00.

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.