Aspen Technology (NASDAQ:AZPN) had its price target raised to $210.00 by analysts at KeyCorp


Aspen Technology (NASDAQ:AZPN – Get Rating) The target price was boosted by stock analysts at KeyCorp from $175.00 to $210.00 in a report issued on Friday, The Fly reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target suggests a potential upside of 11.99% from the stock’s previous close. KeyCorp also issued estimates for Aspen Technology’s Q1 2023 earnings at $0.49 EPS, Q2 2023 earnings at $1.31 EPS, Q3 2023 earnings at $1.43 EPS, Q4 2023 earnings at $1.76 EPS, FY2023 earnings at $4.40 EPS, 97 EPS and FY2024 earnings at $5.74 EPS.

AZPN has been the subject of a number of other research reports. Piper Sandler boosted their price objective on shares of Aspen Technology from $159.00 to $189.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 28th. Loop Capital upped their target price on shares of Aspen Technology from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, June 15th. Bank of America boosted their target price on shares of Aspen Technology from $176.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, June 6th. StockNews.com lowered shares of Aspen Technology from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Finally, TheStreet lowered shares of Aspen Technology from a “b” rating to a “c+” rating in a research note on Tuesday, May 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $193.33, according to MarketBeat.

Shares of Aspen Technology stock opened at $187.52 on Friday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average of $186.31 and a 200-day moving average of $163.19. Aspen Technology has a 1-year low of $122.29 and a 1-year high of $210.60. The company has a market cap of $12.16 billion, a P/E ratio of 46.76, a PEG ratio of 1.86 and a beta of 1.21.

Aspen Technology (NASDAQ:AZPN – Get Rating ) last posted its quarterly earnings data on Wednesday, April 27th. The technology company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The company had revenue of $187.75 million for the quarter, compared to analysts’ expectations of $190.61 million. Aspen Technology had a net margin of 39.22% and a return on equity of 40.86%. Business revenues increased by 15.4% year-on-year. In the same quarter last year, the firm earned $0.94 EPS. equities analysts forecast that Aspen Technology will post 5.08 EPS for the current fiscal year.

In other Aspen Technology news, Director Robert M. Whalen, Jr. sold 4,010 shares of the stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $159.07, for a total transaction of $637,870.70. Following the sale, the director now directly owns 12,865 shares in the company, valued at approximately $2,046,435.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC’s website. Company insiders own 1.00% of the company’s shares.

Hedge funds have recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its stake in shares of Aspen Technology by 22.3% during the 4th quarter. Brown Advisory Inc. now owns 37,062 shares of the technology company’s stock valued at $5,641,000 after purchasing an additional 6,746 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Aspen Technology by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the technology company’s stock valued at $2,829,000 after purchasing an additional 300 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Aspen Technology by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 887,099 shares of the technology company’s stock valued at $135,183,000 after purchasing an additional 7,436 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Aspen Technology during the 4th quarter valued at $20,305,000. Finally, CVA Family Office LLC purchased a new position in Aspen Technology in the fourth quarter valued at $52,000. The hedge fund and other institutional investors own 96.49% of the company’s stock.

About Aspen Technology (Get Rating)

Aspen Technology, Inc provides enterprise asset performance management, asset performance monitoring and asset optimization solutions worldwide. The company’s solutions target complex environments where it is critical to optimize asset design, operation and maintenance lifecycle. Serving bulk chemicals, consumer packaged goods, food and beverage, metals and mining, midstream and LNG, pharmaceuticals, polymers, pulp and paper, specialty chemicals, transportation, upstream, and water and wastewater industries; electricity generation, transmission and distribution industries; and engineering, supply and construction industries.

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