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

Azenta (NASDAQ:AZTA) announced its quarterly earnings results 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. The business had revenue of $159.13 million during the quarter, compared to analysts’ expectations of $159.89 million. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Stock Performance

Shares of NASDAQ AZTA traded down $2.10 during midday trading on Thursday, reaching $51.97. 821,669 shares of the company traded hands, compared to its average volume of 435,119. Azenta has a 12 month low of $36.01 and a 12 month high of $69.16. The firm has a market cap of $2.90 billion, a PE ratio of -165.58 and a beta of 1.51. The stock’s 50-day simple moving average is $57.68 and its 200-day simple moving average is $59.22.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AZTA. Stephens reissued an “equal weight” rating and issued a $70.00 price target on shares of Azenta in a research note on Thursday, February 8th. Jefferies Financial Group initiated coverage on Azenta in a report on Thursday, April 4th. They set a “hold” rating and a $64.00 price objective on the stock. Needham & Company LLC lowered their price target on Azenta from $75.00 to $69.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI lowered their price objective on Azenta from $64.00 to $60.00 and set an “in-line” rating for the company in a research note on Thursday, April 4th. Finally, B. Riley boosted 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to 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.