In a report released today, David Hynes from Canaccord Genuity maintained a Hold rating on Aspen Technology (NASDAQ: AZPN), with a price target of $100. The company’s shares opened today at $91.93.
Hynes noted:
“We have long held the view that this is a quality franchise, and business trends seem to be improving on the margin, so if AZPN continues to pullback with the market, this is a name that we will have on our upgrade watch list. Maintain HOLD. Investment highlights Bullish items.”
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 29.6% and a 71.9% success rate. Hynes covers the Technology sector, focusing on stocks such as Veeva Systems, SPS Commerce, and Descartes.
Aspen Technology has an analyst consensus of Moderate Buy, with a price target consensus of $111.80.
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Based on Aspen Technology’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $38.02 million. In comparison, last year the company had a net profit of $34.76 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Karl Johnsen, the SVP & CFO of AZPN sold 9,438 shares for a total of $1,019,965.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Aspen Technology, Inc. engages in the provision of asset optimization solutions. It develops its applications to design, and optimize processes across the engineering, manufacturing and supply chain, and asset performance management areas. It operates through the Subscription and Software, and Services segments.
