Aspen Technology
AZPN
has announced a collaboration with Aramco to help capital-intensive industries develop new solutions for Carbon Capture and Utilization.
Aramco’s subsidiary – Saudi Aramco Technologies Company – has licensed integrated modelling and optimization technology to Aspen. The technology was previously developed in collaboration with the Korea Advanced Institute of Science & Technology.
The partnership is aimed at reducing carbon emissions and identifying the most viable pathway for carbon capture and utilization by considering economics, process design and operations constraints and carbon-dioxide reduction.
Aspen Technology, Inc. Price and Consensus
Aspen Technology, Inc. price-consensus-chart
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Aspen Technology, Inc. Quote
This will, in turn, help business owners to make evidence-based decisions and develop short, intermediate and long-range production and strategic plans to adopt carbon management strategies and achieve sustainability goals.
The technology also helps to develop case options and cost curves to evaluate the effects of fluctuating energy prices, carbon fees and cost of raw materials and goods.
Aspen Technology provides asset optimization software solutions that assist in optimizing process manufacturing by supporting real-time decision-making, predicting equipment failure and providing the ability to forecast and simulate potential actions.
The company continues to invest heavily in research and development as well as form strategic partnerships to meet sustainability goals.
In November 2022, the company announced the availability of its latest aspenONE software release – V14. It includes more than 100 sustainability sample models for the development of projects that reduce carbon footprint, like hydrogen economy, bio-based feedstocks and renewable energy.
Prior to that, the company announced that India-based ACME Group had selected AspenTech’s Performance Engineering solution to design the hydrolysis process and optimize assets at the green hydrogen and green ammonia plant in Rajasthan.
For fiscal 2023, Aspen expects revenues in the range of $1.14-$1.20 billion. The Zacks Consensus Estimate for revenues is pegged at $1.17 billion. Non-GAAP net income is anticipated to be $6.76-$6.91 per share. The consensus mark for earnings is pegged at $6.85.
Aspen currently carries a Zacks Rank #3 (Hold). In the past year, shares of the company have returned 45.6% against the
industry’s
decline of 59.2%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are
Arista Networks
ANET
,
Plexus
PLXS
and
Super Micro Computer
SMCI
, each presently sporting a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, up 8.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 0.9% in the past year.
The Zacks Consensus Estimate for Plexus 2023 earnings is pegged at $5.98 per share, rising 8.9% in the past 60 days.
Plexus’ earnings beat the Zacks Consensus Estimate in three of the last four quarters, the average being 17.5%. Shares of PLXS have gained 14.5% in the past year.
The Zacks Consensus Estimate for Super Micro Computer’s fiscal 2023 earnings is pegged at $9.58 per share, rising 23.6% in the past 60 days. Super Micro
Computer’s earnings beat the Zacks Consensus Estimate in all of the last four quarters, the average being 9.4%. Shares of SMCI have soared 112.7% in the past year.
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