Benchmark Raises Price Target on Aspen Technology (AZPN) Following Analyst Meetings that Provided a Solid Outlook
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Price: $264.33 --0%
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark is maintaining its Buy rating on shares of Aspen Technology (NASDAQ: AZPN) and is raising its price target from $17 to $19 following AZPN's user conference and analyst meeting.
CEO Mark Fusco commented that total contract value is growing in the single to low double digit range. He noted that the company is on plan to achieve its long-term
operating model of double-digit revenue growth and mid-20% operating margins.
AZPN plans to the deepen integration between its products, seamlessly interface with third-party applications, provide mobile access to plant operating and scheduling information, and improve the usability, look, and feel of its products across all modules.
Management introduced its FY12 guidance with a total revenue range of $230-$240 million, operating expenses between $260-$270 million, and a non-GAAP operating loss of $15-$25 million.
For more ratings news on Aspen Technology click here and for the rating history of Aspen Technology click here.
Shares of Aspen Technology closed at $16.10 yesterday.
CEO Mark Fusco commented that total contract value is growing in the single to low double digit range. He noted that the company is on plan to achieve its long-term
operating model of double-digit revenue growth and mid-20% operating margins.
AZPN plans to the deepen integration between its products, seamlessly interface with third-party applications, provide mobile access to plant operating and scheduling information, and improve the usability, look, and feel of its products across all modules.
Management introduced its FY12 guidance with a total revenue range of $230-$240 million, operating expenses between $260-$270 million, and a non-GAAP operating loss of $15-$25 million.
For more ratings news on Aspen Technology click here and for the rating history of Aspen Technology click here.
Shares of Aspen Technology closed at $16.10 yesterday.
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