Canaccord Genuity Raises Long-Term Financial Targets on Aspen Technology (AZPN); Analyst Day Positive Push For Investors
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Price: $30.22 +0.37%
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
8 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade AZPN Now!
Canaccord Genuity maintains a 'Buy' on Aspen Technology (NASDAQ: AZPN) price target of $25.00.
Analyst, Richard Davis, said, "On Thursday we attended AZPN’s analyst day with about 30 other sell- and buy-side analysts. In a nervous tape, hitting estimates is crucial, and in our opinion Aspen is very likely to deliver on that front. The analyst day is likely to have provided investors with greater understanding and confidence in the firm’s long-term opportunity and prospects. We remain buyers of AZPN at current levels and believe the stock could breach $30 in the next 15-18 months. "
"...over the long term we are now looking for higher gross margin expectations (into the 83-85% range), which would propel operating margins to the 30-35% level, up from the previous 27-32% range (we believe pro forma, normalized operating margins are roughly 27-28% currently)."
For an analyst ratings summary and ratings history on Aspen Technology click here. For more ratings news on Aspen Technology click here.
Shares of Aspen Technology closed at $21.28 yesterday, with a 52 week range of $12.61-$23.53.
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Analyst, Richard Davis, said, "On Thursday we attended AZPN’s analyst day with about 30 other sell- and buy-side analysts. In a nervous tape, hitting estimates is crucial, and in our opinion Aspen is very likely to deliver on that front. The analyst day is likely to have provided investors with greater understanding and confidence in the firm’s long-term opportunity and prospects. We remain buyers of AZPN at current levels and believe the stock could breach $30 in the next 15-18 months. "
"...over the long term we are now looking for higher gross margin expectations (into the 83-85% range), which would propel operating margins to the 30-35% level, up from the previous 27-32% range (we believe pro forma, normalized operating margins are roughly 27-28% currently)."
For an analyst ratings summary and ratings history on Aspen Technology click here. For more ratings news on Aspen Technology click here.
Shares of Aspen Technology closed at $21.28 yesterday, with a 52 week range of $12.61-$23.53.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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