Azenta (NASDAQ:AZTA) Issues Earnings Results, Beats Expectations By $0.03 EPS

Azenta (NASDAQ:AZTA) issued its quarterly earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03, Briefing.com reports. The firm had revenue of $159.13 million for the quarter, compared to analyst estimates of $159.89 million. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Price Performance

NASDAQ AZTA opened at $52.51 on Friday. The stock’s 50 day simple moving average is $57.43 and its 200 day simple moving average is $59.17. Azenta has a one year low of $36.01 and a one year high of $69.16. The firm has a market cap of $2.93 billion, a PE ratio of -169.38 and a beta of 1.51.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. B. Riley raised their target price on Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Evercore ISI decreased their target price on shares of Azenta from $64.00 to $60.00 and set an “in-line” rating on the stock in a research report on Thursday, April 4th. Stephens reissued an “equal weight” rating and issued a $70.00 price target on shares of Azenta in a research report on Thursday, February 8th. Needham & Company LLC lowered their price objective on Azenta from $75.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group began coverage on Azenta in a research report on Thursday, April 4th. They set a “hold” rating and a $64.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Azenta has a consensus rating of “Hold” and a consensus price target of $68.40.

About Azenta

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.