Aspen (AZPN) Improves aspenONE With Sustainability Features
Aspen Technology AZPN unveiled enhanced performance and sustainability features in its asset optimization solutions portfolio — aspenONE. The update includes design, operations, and maintenance features.
The new features are aimed to expedite customer digitalization efforts, advance net zero initiatives, provide engineers with improved AI tools, enhance asset health and performance, and facilitate integrated enterprise data management.
The latest aspenONE facilitates the rapid development and implementation of reliable sustainability solutions, offering insights based on operational data for reduced inefficiencies and improved performance across the enterprise, added the company. The enhancements include an expanded set of AI models and integrations for comprehensive access to operational technology data.
Aspen Technology, Inc. Price and Consensus
Aspen Technology, Inc. price-consensus-chart | Aspen Technology, Inc. Quote
The release also introduces sustainability models incorporating industrial AI to address accuracy and complexity challenges in achieving net zero goals. The updates include an extensive library of sustainability sample models, high-fidelity models for hydrogen and carbon capture, and out-of-the-box electrolyzer models supporting green hydrogen initiatives.
Additionally, aspenONE integrates new tools for enterprise data management, allowing customers to centrally manage OT data aggregation. Integrations with AspenTech Inmation, Aspen InfoPlus.21 and aspenONE Process Explorer enhance data identification and analysis capabilities.
Aspen provides solutions that aid in optimizing process manufacturing by supporting real-time decision making, predicting equipment failure, and providing the ability to forecast and simulate potential actions. The company offers the aspenONE Asset Performance Management suite of solutions, which comprises Aspen Mtell, Aspen Fidelis Reliability, Aspen ProMV, Aspen Column Analytics, and Aspen Root Cause Analytics.
The company reported first-quarter fiscal 2024 non-GAAP earnings per share (EPS) of $1.16, which missed the Zacks Consensus Estimate of $1.41. AZPN reported non-GAAP EPS of $2.20 in the year-ago quarter.
Revenues of $249.3 million lagged the Zacks Consensus Estimate by 3.5%. The company reported revenues of $250.8 million in the prior-year quarter. The year-over-year decline was due to weakness in the License and solutions business segment.
Aspen currently carries a Zacks Rank #2 (Buy). Shares of the company have lost 28.4% against the sub-industry’s growth of 42.7% in the past year.
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Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Guidewire Software GWRE, Flex FLEX and Badger Meter BMI. Flex and Badger Meter presently sport a Zacks Rank #1 (Strong Buy) whereas Guidewire carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Guidewire Software’s fiscal 2024 EPS has increased 10.5% in the past 60 days to 74 cents. Shares of GWRE have soared 49.1% in the past year.
The Zacks Consensus Estimate for Flex’s fiscal 2024 EPS has gained 3.6% in the past 60 days to $2.56. Flex’s long-term earnings growth rate is 12.4%. Shares of FLEX have gained 25.5% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 EPS has improved 7.3% in the past 60 days to $3.07.
Badger Meter’s earnings outpaced the Zacks Consensus Estimate in all the last four quarters, the average surprise being 10.3%. Shares of BMI have rallied 23.6% in the past year.
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