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

Azenta (NASDAQ:AZTA - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.05 EPS 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 business had revenue of $159.13 million for the quarter, compared to analysts' expectations of $159.89 million. During the same period last year, the business earned ($0.06) earnings per share. The business's quarterly revenue was up 7.2% on a year-over-year basis. Azenta updated its FY24 guidance to $0.27-0.37 EPS.

Azenta Stock Down 2.9 %

AZTA traded down $1.56 during trading hours on Thursday, reaching $52.51. 1,343,192 shares of the company's stock traded hands, compared to its average volume of 441,225. The firm has a 50-day moving average price of $57.68 and a 200 day moving average price of $59.22. Azenta has a 52-week low of $36.01 and a 52-week high of $69.16. The firm has a market capitalization of $2.93 billion, a PE ratio of -165.58 and a beta of 1.51.

Analysts Set New Price Targets

A number of research analysts have commented on AZTA shares. Jefferies Financial Group initiated coverage on shares of Azenta in a research report on Thursday, April 4th. They set a "hold" rating and a $64.00 price target on the stock. Needham & Company LLC dropped their price objective on Azenta from $75.00 to $69.00 and set a "buy" rating for the company in a research note on Thursday. B. Riley increased their price objective on Azenta from $61.00 to $79.00 and gave the company a "buy" rating in a research note on Thursday, February 1st. Evercore ISI dropped 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, Stephens reissued an "equal weight" rating and issued a $70.00 price target on shares of Azenta in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Azenta currently has an average rating of "Hold" and an average price target 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.