Benchmark Co. hoisted their price target on shares of Aspen Technology (NASDAQ:AZPN) from $35.00 to $38.00 in a research note issued on Friday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Benchmark Co.’s target price would suggest a potential upside of 19.42% from the stock’s previous close.
The analysts wrote, “Last night, AZPN exited fiscal 13 on a high note, delivering 13% LTCV and annual spend growth, free cash flow upside, and total revenue and non-GAAP EPS ahead of our estimates. The quarter’s solid results capped a fiscal year that highlighted sound field execution, an improved competitive position, a successful business model transition and a solid upgrade to its process simulation product line that should allow the company to further solidify its industry leadership and drive revenue and earnings growth well into FY15. We believe AZPN’s deal pipeline is well-positioned going into the new fiscal year and the stock has recovered nicely since the surprise retirement of CEO Mark Fusco as investors get to know and become more comfortable with incoming CEO Antonio Pietri. We are retaining our Buy rating and we are moving our price target ahead to $38 from $35.”
Aspen Technology (NASDAQ:AZPN) opened at 31.82 on Friday. Aspen Technology has a 1-year low of $23.05 and a 1-year high of $33.63. The stock’s 50-day moving average is $31.63 and its 200-day moving average is $30.77. The company has a market cap of $2.982 billion and a P/E ratio of 157.52.
Aspen Technology (NASDAQ:AZPN) last released its earnings data on Thursday, August 15th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.16. The company had revenue of $83.30 million for the quarter, compared to the consensus estimate of $78.79 million. During the same quarter last year, the company posted ($0.04) earnings per share. Aspen Technology’s revenue was up 30.2% compared to the same quarter last year. Analysts expect that Aspen Technology will post $0.42 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Aspen Technology from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, July 31st. They now have a $34.90 price target on the stock.
Four research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $33.98.
Aspen Technology, Inc, is a provider of process optimization software solutions. The Company’s aspenONE software and related services have been developed specifically for companies in the process industries, including the energy, chemicals, engineering and construction industries.