Roth Capital analyst Darren Aftahi assigned a Buy rating to Aspen Group Inc (ASPU) yesterday and set a price target of $9.50. The company’s shares closed yesterday at $4.81, close to its 52-week low of $4.40.
Aftahi wrote:
“We’ve reduced 3Q19 enrollments, which along with conservatism flow into our FY19/20 estimates. With our reset, we view our estimates as reasonable, and that the stock could reflect most risks. While capitalization still remains a topic of investors, if resolved, it could translate into share appreciation for what is still a very disruptive, multi-faceted, high growth story. Adjusting estimates to account for more pronounced business seasonality. We believe ASPU faced more pronounced seasonality in its 3Q19 (Jan. ending) quarter for its core Aspen segment. We believe some of the incremental seasonality was seen in Nov./Dec. around the year-end holidays which likely implies 3Q19 could come in below prior expectations.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 12.9% and a 57.1% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
Aspen Group Inc has an analyst consensus of Moderate Buy, with a price target consensus of $11.25.
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Aspen Group, Inc. is a holding company, which engages in the provision of education. It operates through its subsidiary Aspen University and United States University.
