Azenta (NASDAQ:AZTA) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Azenta (NASDAQ:AZTA) announced its earnings results on Wednesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03, Briefing.com reports. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The business had revenue of $159.13 million for the quarter, compared to analysts’ expectations of $159.89 million. During the same quarter last year, the firm earned ($0.06) EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Stock Down 4.0 %

Shares of AZTA stock traded down $2.16 on Thursday, hitting $51.91. The company had a trading volume of 799,733 shares, compared to its average volume of 434,822. The firm has a market cap of $2.89 billion, a P/E ratio of -165.58 and a beta of 1.51. The company has a 50-day moving average price of $57.68 and a 200-day moving average price of $59.22. Azenta has a twelve month low of $36.01 and a twelve month high of $69.16.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AZTA. Needham & Company LLC lowered their price objective on Azenta from $75.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday. B. Riley lifted their price target on Azenta from $61.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Stephens reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Azenta in a research report on Thursday, February 8th. Jefferies Financial Group began coverage on Azenta in a research report on Thursday, April 4th. They set a “hold” rating and a $64.00 price target for the company. Finally, Evercore ISI lowered their price target on Azenta from $64.00 to $60.00 and set an “in-line” rating for the company in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.40.

Azenta Company Profile

Azenta, Inc provides biological and chemical compound sample exploration and management solutions for the life sciences market in North America, Africa, China, the United Kingdom, rest of Europe, the Asia Pacific, and internationally. The company operates in two reportable segments, Life Sciences Products and Life Sciences Services.