Aspen Technology price target lowered to $195 from $240 at Piper Sandler

Piper Sandler analyst Clarke Jeffries lowered the firm’s price target on Aspen Technology to $195 from $240 and keeps a Neutral rating on the shares. The company’s fiscal 2023 guidance was largely reiterated with revenue, bookings, and annual contract value guidance all held after rising investor suspicion that a weakening macroeconomic outlook would translate to softness in its end markets, the analyst tells investors in a research note.