Azenta (NASDAQ:AZTA) Issues Quarterly Earnings Results

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

Azenta Price Performance

Shares of AZTA traded down $1.83 on Thursday, reaching $52.24. The company’s stock had a trading volume of 903,308 shares, compared to its average volume of 435,514. Azenta has a 12-month low of $36.01 and a 12-month high of $69.16. The stock has a market capitalization of $2.91 billion, a P/E ratio of -165.58 and a beta of 1.51. The stock’s 50 day simple moving average is $57.68 and its two-hundred day simple moving average is $59.22.

Wall Street Analysts Forecast Growth

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

About Azenta

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.