Aspen Technology, Inc. (NASDAQ:AZPN) Receives $219.50 Consensus Target Price from Analysts

Shares of Aspen Technology, Inc. (NASDAQ:AZPN) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $219.50.

Several brokerages have recently issued reports on AZPN. William Blair upgraded Aspen Technology to a “hold” rating in a research note on Tuesday, May 7th. Robert W. Baird reiterated an “outperform” rating and issued a $230.00 price target on shares of Aspen Technology in a research note on Friday. Berenberg Bank raised Aspen Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $185.00 to $255.00 in a report on Friday, May 17th. Finally, Piper Sandler cut their price objective on Aspen Technology from $196.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th.

Aspen Technology Stock Performance

Shares of AZPN opened at $197.66 on Friday. Aspen Technology has a 52-week low of $161.32 and a 52-week high of $224.77. The business’s fifty day moving average is $206.51 and its 200-day moving average is $202.62. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of -449.22, a PEG ratio of 2.59 and a beta of 0.76.

Aspen Technology (NASDAQ:AZPN) last issued its quarterly earnings results on Tuesday, May 7th. The technology company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.39. Aspen Technology had a positive return on equity of 2.76% and a negative net margin of 2.46%. The company had revenue of $278.11 million for the quarter, compared to analyst estimates of $251.65 million. As a group, research analysts forecast that Aspen Technology will post 5.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Technology

Several hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its holdings in Aspen Technology by 561.8% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 225 shares of the technology company’s stock worth $48,000 after buying an additional 191 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Aspen Technology by 2.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 31,634 shares of the technology company’s stock worth $70,000 after buying an additional 735 shares during the period. Principal Securities Inc. acquired a new position in Aspen Technology during the 4th quarter worth about $73,000. UniSuper Management Pty Ltd lifted its holdings in Aspen Technology by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 400 shares of the technology company’s stock worth $85,000 after buying an additional 200 shares during the period. Finally, Covestor Ltd lifted its holdings in Aspen Technology by 36.0% during the 1st quarter. Covestor Ltd now owns 468 shares of the technology company’s stock worth $100,000 after buying an additional 124 shares during the period. Institutional investors and hedge funds own 45.66% of the company’s stock.

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.