|Over a week ago|
Aspen Technology price target raised to $240 from $189 at Piper Sandler » 06:1909/1909/19/22
Piper Sandler analyst…
Piper Sandler analyst Weston Twigg raised the firm's price target on Aspen Technology to $240 from $189 and keeps a Neutral rating on the shares. After speaking with management, the analyst has increased confidence in the multi-year demand environment for Aspen's solutions and its ability to reach $1.5B annual spend/ACV target for fiscal 2026. He's "very favorable" on the durability of Aspen's business in the face of macro uncertainty, but sees additional upside as contingent on performance above and beyond the current targets.
|Over a month ago|
Aspen Technology initiated with a Peer Perform at Wolfe Research » 17:1308/1608/16/22
Wolfe Research analyst…
Wolfe Research analyst Gal Munda initiated coverage of Aspen Technology (AZPN) with a Peer Perform rating. The analyst is "extremely positive" on AspenTech following the Emerson (EMR) deal announcement. Munda believes the valuation gap stemming from the deal dynamics has now closed and is waiting for synergies to see further upside.
Aspen Technology sees FY23 adjusted EPS $6.40-$6.89, consensus $5.86 » 16:1508/0808/08/22
Sees FY23 revenue…
Sees FY23 revenue $1.14B-$1.2B, consensus $977.65M.
Aspen Technology reports Q4 adjusted EPS $2.43, consensus $2.15 » 16:1408/0808/08/22
Reports Q4 revenue…
Reports Q4 revenue $238.92M, cosnensus $280.76M. "AspenTech ended fiscal year 2022 with strong fourth quarter results highlighted by 8.5% annual spend growth for the heritage AspenTech business. We have continued to see improvement in demand across our business due to the strength of our customers' end markets and the growing need for our customers to operate their assets in a more sustainable and efficient manner," said Antonio Pietri, President and Chief Executive Officer of AspenTech.
Emerson unit AspenTech to acquire Micromine, no terms » 08:4807/2707/27/22
Emerson's (EMR) majority owned subsidiary, AspenTech (AZPN) announced it has entered into an agreement to acquire Micromine, an end-to-end mining software provider. This acquisition will build on AspenTech's leading software portfolio, furthering its diversification strategy into the metals and mining market and facilitating the digital transformation and sustainability goals of the industry. The transaction with AspenTech, which closed in May , accelerates Emerson's software strategy and demonstrates commitment to build a higher growth, more diversified and cohesive portfolio. This proposed acquisition of Micromine is an example of how Emerson and AspenTech will drive growth through continued investment and M&A. Micromine, headquartered in Perth, Australia, offers solutions relevant to every step of the mining process from exploration, evaluation, design and planning through production and optimization. Micromine's solutions are used at over 2,000 sites across all major mining regions. Following AspenTech's completion of the proposed acquisition, Emerson will continue to be a 55% shareholder in AspenTech.
Aspen Technology price target raised to $210 from $175 at KeyBanc » 07:2707/0807/08/22
KeyBanc analyst Jason…
KeyBanc analyst Jason Celino raised the firm's price target on Aspen Technology to $210 from $175 and keeps an Overweight rating on the shares. The analyst believes Aspen is positioned to "see a multi-quarter acceleration back to double-digit annual spend growth, which is supported by a strong oil and gas end market backdrop." Celino added that, with the transaction with Emerson now behind it, he rolls forward the firm's model to FY24 for the combined company, with a higher price target of $210 based on 30x FY24 enterprise value/free cash flow and a bull case price target of $235 based on 32x FY24.
Aspen Technology downgraded to Neutral from Outperform at Baird » 06:5007/0707/07/22
Baird analyst Rob Oliver…
Baird analyst Rob Oliver downgraded Aspen Technology to Neutral from Outperform with a price target of $162, down from $170. The analyst believes the potential for near- to medium-term "headwinds could cap share price upside." These challenges include a more difficult macro environment, the integration of Emerson and Aspen integration, and an equity valuation that is above the historical average, Oliver tells investors in a research note. The analyst sees potential for a more cautious tone around Aspen's fiscal 2022 and 2023 outlooks as well as complexities of managing the Emerson integration.
|Over a quarter ago|
Aspen Technology price target raised to $189 from $159 at Piper Sandler » 06:1406/2806/28/22
Piper Sandler analyst…
Piper Sandler analyst Weston Twigg raised the firm's price target on Aspen Technology to $189 from $159 and keeps a Neutral rating on the shares following the Emerson deal. The analyst believes the combined company is positioned to grow annual revenue between 9%-13%, and raised his fiscal 2024 revenue moderately to reflect the midpoint.
Aspen Technology price target raised to $225 from $175 at Loop Capital » 06:1506/1506/15/22
Loop Capital analyst Mark…
Loop Capital analyst Mark Schappel raised the firm's price target on Aspen Technology to $225 from $175 and keeps a Buy rating on the shares. The analyst sees the stock as an "attractive idea" within the enterprise software universe following his conversations with its management. Schappel adds that the qualitative commentary around the EMR merger remains upbeat, customer sustainability initiatives are becoming a larger part of the buying discussion, and the company's end markets continue to show signs of improvement.
Aspen Technology price target raised to $230 from $176 at BofA » 06:5406/0606/06/22
BofA analyst Andrew Obin…
BofA analyst Andrew Obin raised the firm's price target on Aspen Technology (AZPN) to $230 from $176 and keeps a Buy rating on the shares following the completion in mid-May of its transaction with Emerson (EMR). The Utilities end market is now about 21% of revenue for "new" Aspen on a pro forma basis, which should help lower bookings cyclicality, Obin contends. He argues that shares deserve a premium given oil & gas end market demand strength, prospective transaction synergies, and the lift to annual spend growth from a transition of OSI Power and GSS to Aspen Technology's token-based term license software model.