Canaccord Genuity Reiterates a 'Buy' on Aspen Technology (AZPN); Strong Results Highlighted by Accelerating Growth
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Price: $264.33 --0%
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 7 | New: 77
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 7 | New: 77
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Canaccord Genuity reiterates a 'Buy' on Aspen Technology (NASDAQ: AZPN), raises price target from $21 to $23.
Analyst, Richard Davis, said, "Aspen’s quarter supports our view that 1) the company is gaining share against legacy firms and point solutions, 2) it has extremely sticky applications (effectively 100% renewal rates) and 3) growth is accelerating. We are not sure how high is up in terms of growth, but it seems to us that this firm’s normalized organic revenue and cash flow growth will gradually accelerate into the 12-13% range and low-20% pace, respectively, over the next 12-24 months. If so, AZPN could reach a $25-30 price range depending on how aggressive you are in terms of multiple assumptions."
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 $18.01 yesterday.
Analyst, Richard Davis, said, "Aspen’s quarter supports our view that 1) the company is gaining share against legacy firms and point solutions, 2) it has extremely sticky applications (effectively 100% renewal rates) and 3) growth is accelerating. We are not sure how high is up in terms of growth, but it seems to us that this firm’s normalized organic revenue and cash flow growth will gradually accelerate into the 12-13% range and low-20% pace, respectively, over the next 12-24 months. If so, AZPN could reach a $25-30 price range depending on how aggressive you are in terms of multiple assumptions."
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 $18.01 yesterday.
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