Market Overview

UPDATE: Benchmark Company Raises PT on Aspen Technology on Multiple Positive Factors

Related AZPN
Top 4 Technology Value Stocks to Put In Your Portfolio - Stocks in the News
Midday Losers From October 29: InvenSense, American Realty Capital, Orbital Sciences And More

In a report published Friday, Benchmark Company analyst Mark W. Schappel reiterated a Buy rating on Aspen Technology (NASDAQ: AZPN), and raised the price target from $35.00 to $38.00.

In the report, Benchmark Company noted, “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 closed on Thursday at $31.82.

Latest Ratings for AZPN

DateFirmActionFromTo
Oct 2014Canaccord GenuityDowngradesBuyHold
May 2014Summit ResearchDowngradesBuyHold
Apr 2014Summit ResearchUpgradesHoldBuy

View More Analyst Ratings for AZPN
View the Latest Analyst Ratings

Posted-In: Benchmark Company Mark W. SchappelAnalyst Color Price Target Analyst Ratings

 

Related Articles (AZPN)

Around the Web, We're Loving...

Get Benzinga's Newsletters