Azenta, Inc. (NASDAQ:AZTA) Receives $64.20 Average Price Target from Analysts

Posted by on May 23rd, 2023

Azenta, Inc. (NASDAQ:AZTA – Get Rating) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $64.20.

Several equities analysts have recently commented on the stock. Stephens cut shares of Azenta from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $65.00 to $60.00 in a research report on Thursday, February 9th. B. Riley reduced their target price on Azenta from $77.00 to $68.00 and set a “buy” rating on the stock in a report on Friday, February 10th. Needham & Company LLC lowered their price target on Azenta from $68.00 to $55.00 in a report on Wednesday, May 10th. Finally, TheStreet cut Azenta from a “c-” rating to a “d” rating in a research note on Wednesday, May 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Azenta by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,070,612 shares of the company’s stock worth $303,047,000 after acquiring an additional 127,923 shares during the last quarter. BlackRock Inc. increased its stake in shares of Azenta by 1.6% in the third quarter. BlackRock Inc. now owns 7,035,616 shares of the company’s stock valued at $301,546,000 after purchasing an additional 113,395 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Azenta by 9.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,572,250 shares of the company’s stock valued at $195,966,000 after buying an additional 401,828 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Azenta by 115.1% during the first quarter. JPMorgan Chase & Co. now owns 3,018,907 shares of the company’s stock valued at $134,703,000 after buying an additional 1,615,328 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Azenta by 7.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,376,882 shares of the company’s stock worth $138,382,000 after buying an additional 158,848 shares during the period. 96.42% of the stock is currently owned by institutional investors.

Azenta Stock Up 2.8 %

Shares of NASDAQ AZTA opened at $43.80 on Friday. Azenta has a fifty-two week low of $36.01 and a fifty-two week high of $78.82. The business has a 50 day moving average price of $42.65 and a two-hundred day moving average price of $49.99. The firm has a market cap of $2.85 billion, a PE ratio of -69.52 and a beta of 1.58.

Azenta (NASDAQ:AZTA – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $148.40 million for the quarter, compared to analyst estimates of $161.90 million. Azenta had a positive return on equity of 0.81% and a negative net margin of 7.79%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. On average, analysts anticipate that Azenta will post 0.15 earnings per share for the current year.

Azenta Company Profile

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Azenta, Inc is a provider of life sciences sample exploration and management solutions for the life sciences market. It operates through the Life Sciences Products and Life Sciences Services segments. The Life Sciences Products segment is involved in automated cold storage solutions for biological and chemical compound samples.

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