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Aspen Technology Down 2.45% To $202.46 After Earnings Beat

Tuesday, August 09, 2022 02:47 PM | InvestorsObserver Analysts
Aspen Technology Down 2.45% To $202.46 After Earnings Beat

Aspen Technology (AZPN) said after close Monday that it earned $2.43 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $238.9 million, missing estimates by $41.8 million.

In the same quarter a year ago, the company earned $1.53 per share on revenue of $198 million.

The stock is down 2.45% to $202.46 after the report.

Aspen Technology's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Aspen Technology a Bearish Sentiment Rank from InvestorsObserver.

Aspen Technology has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 97, putting Aspen Technology in the top 25% of stocks. The firm was recently trading at a 52-week high of $216.15 on August 8, 2022 and set a 52-week low on October 1, 2021 at $122.29.

Aspen Technology is a leading global supplier of software solutions that optimize asset design, operations, and maintenance in complex industrial environments. The company's AspenOne software platform helps improve process-oriented plant efficiency, and thereby lower capital intensity, increase working capital efficiency, and improve margins. Aspen was founded in 1981 and serves more than 2,300 customers in 32 countries.

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