Aspen Technology (NASDAQ:AZPN) Updates FY24 Earnings Guidance

Aspen Technology (NASDAQ:AZPN) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $6.29 for the period, compared to the consensus EPS estimate of $6.60. The company issued revenue guidance of at least $1.10 billion, compared to the consensus revenue estimate of $1.13 billion.

Aspen Technology Stock Performance

NASDAQ AZPN traded down $8.77 during trading on Tuesday, reaching $188.77. The company’s stock had a trading volume of 877,170 shares, compared to its average volume of 206,090. The firm has a 50 day moving average price of $202.37 and a 200 day moving average price of $196.38. Aspen Technology has a 12 month low of $161.32 and a 12 month high of $224.77.

Aspen Technology (NASDAQ:AZPN) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.06). Aspen Technology had a negative net margin of 8.17% and a positive return on equity of 2.38%. The company had revenue of $257.16 million during the quarter, compared to analyst estimates of $259.70 million. Analysts anticipate that Aspen Technology will post 5.82 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Aspen Technology from a sell rating to a hold rating in a research report on Wednesday, February 7th. Piper Sandler restated a neutral rating and set a $196.00 price target on shares of Aspen Technology in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $203.67.

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.