Aspen Reports Solid Q4 Revenue; Shares Rise 17.5%

Shares of education technology provider Aspen Group (ASPU) closed 17.5% higher on Wednesday after the company announced robust preliminary revenue figures for the fourth quarter of Fiscal 2021 ended April 30.

The company reported quarterly revenues of $19.1 million, up 35% year-over-year, almost in line with the Street’s estimates of $19.06 million.

For Fiscal Year 2021, revenues grew 38% year-over-year to $67.8 million. The company ended the year with total available liquidity of $13.5 million. (See Aspen stock chart on TipRanks)

Chairman and CEO of Aspen Michael Mathews said, “The principal revenue drivers for fiscal year 2022 will be the continued growth of United States University’s MSN-FNP (Master of Science in Nursing – Family Nurse Practitioner) program, the launch of double cohorts at our main Phoenix campus, combined with the new campuses in Tampa, Austin and Nashville.”

Roth Capital analyst Darren Aftahi recently assigned a Buy rating to the stock but lowered the price target to $11 from $15 (57.1% upside potential).

In a research note to investors, Aftahi said Aspen’s risk/reward profile was highly favorable at current levels.

Overall, the stock has a Strong Buy consensus rating based on 5 Buys. The average Aspen Group analyst price target of $12.80 implies 82.86% upside potential from current levels. The company’s shares have lost 31.8% year-to-date.

Related News:
3D Systems Gains 28% on Partnership with CollPlant
Duck Creek Technologies Partners with Price Digests to Offer Insurers API-based Solutions
Amazon Becomes Biggest Renewable Energy Buyer

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts