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

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

Aspen Technology Price Performance

AZPN opened at $265.25 on Thursday. The firm has a 50 day simple moving average of $253.07 and a 200 day simple moving average of $235.85. Aspen Technology has a fifty-two week low of $171.25 and a fifty-two week high of $265.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AZPN shares. Loop Capital cut shares of Aspen Technology from a “buy” rating to a “hold” rating and lifted their target price for the company from $260.00 to $265.00 in a research note on Wednesday. Robert W. Baird restated a “neutral” rating and issued a $265.00 target price (down from $275.00) on shares of Aspen Technology in a research note on Monday, January 27th. StockNews.com started coverage on shares of Aspen Technology in a research report on Sunday. They set a “hold” rating on the stock. Piper Sandler raised their price objective on shares of Aspen Technology from $240.00 to $265.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Finally, Baird R W lowered shares of Aspen Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $262.00.

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.