Canaccord Genuity Gives Buy Rating to Aspen Technology (AZPN)

By admin | 7 years ago

Aspen Technology (NASDAQ: AZPN)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a note issued to investors on Wednesday.

Aspen Technology traded down 1.70% on Wednesday, hitting $22.52. Aspen Technology has a 1-year low of $12.61 and a 1-year high of $23.53. The company has a market cap of $2.107 billion and a price-to-earnings ratio of 65.27.

The company last announced its quarterly results on Tuesday, May 1st. It reported $0.01 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of ($0.04) EPS by $0.05. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts predict that Aspen Technology will post $0.01 earnings per share next quarter.

A number of other analysts have also recently weighed in on AZPN. Analysts at Brigantine initiated coverage on shares of Aspen Technology in a research note to investors on Tuesday, April 3rd. They set a “buy” rating and a $23.00 price target on the stock. Separately, analysts at Benchmark Co. raised their price target on shares of Aspen Technology from $22.00 to $25.00 in a research note to investors on Wednesday, February 15th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Aspen Technology from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, February 6th.

Aspen Technology, Inc. is a provider of process optimization software solutions, which are designed to manage and optimize plant and process design, operational performance and supply chain planning.

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