Azenta (NASDAQ:AZTA) Announces Earnings Results, Beats Expectations By $0.09 EPS

Azenta (NASDAQ:AZTA) posted its earnings results on Tuesday. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.07 by $0.09, Briefing.com reports. Azenta had a negative net margin of 23.12% and a positive return on equity of 0.81%. The firm had revenue of $173.00 million for the quarter, compared to the consensus estimate of $166.14 million. During the same period in the prior year, the business posted $0.13 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Azenta updated its FY24 guidance to $0.30-0.36 EPS and its FY 2024 guidance to 0.300-0.360 EPS.

Azenta Stock Down 8.9 %

NASDAQ AZTA traded down $5.21 during trading on Wednesday, hitting $53.13. The company’s stock had a trading volume of 760,515 shares, compared to its average volume of 467,936. Azenta has a 52 week low of $44.00 and a 52 week high of $69.16. The firm has a market cap of $2.86 billion, a P/E ratio of -19.61 and a beta of 1.51. The firm has a 50 day moving average price of $54.78 and a 200 day moving average price of $57.47.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $69.00 price objective on shares of Azenta in a report on Wednesday. Evercore ISI lifted their price target on shares of Azenta from $52.00 to $53.00 and gave the company an “in-line” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

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.