Needham & Company LLC Reaffirms “Buy” Rating for Azenta (NASDAQ:AZTA)

Needham & Company LLC reaffirmed their buy rating on shares of Azenta (NASDAQ:AZTA) in a report issued on Monday, Benzinga reports. They currently have a $75.00 price target on the stock.

AZTA has been the subject of a number of other research reports. Stephens reiterated an equal weight rating and set a $70.00 price target on shares of Azenta in a research report on Thursday, February 8th. Jefferies Financial Group initiated coverage on Azenta in a report on Thursday, April 4th. They issued a hold rating and a $64.00 price objective for the company. Evercore ISI cut their price objective on Azenta from $64.00 to $60.00 and set an in-line rating for the company in a report on Thursday, April 4th. Finally, B. Riley upped their price objective on Azenta from $61.00 to $79.00 and gave the company a buy rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $69.60.

Azenta Stock Performance

Shares of AZTA stock opened at $56.33 on Monday. Azenta has a 1 year low of $36.01 and a 1 year high of $69.16. The stock has a fifty day moving average of $62.47 and a two-hundred day moving average of $58.80. The firm has a market capitalization of $3.14 billion, a PE ratio of -181.70 and a beta of 1.53.

Azenta (NASDAQ:AZTA) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.02 earnings per share (EPS) for the quarter. Azenta had a positive return on equity of 0.49% and a negative net margin of 2.92%. The company had revenue of $154.32 million during the quarter, compared to analyst estimates of $151.86 million. Equities research analysts predict that Azenta will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Azenta

Hedge funds have recently modified their holdings of the stock. TFC Financial Management Inc. purchased a new stake in shares of Azenta during the third quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of Azenta during the third quarter valued at $33,000. Principal Securities Inc. purchased a new stake in shares of Azenta during the fourth quarter valued at $36,000. Northwest Financial Advisors purchased a new stake in shares of Azenta during the fourth quarter valued at $46,000. Finally, Point72 Europe London LLP acquired a new position in Azenta during the fourth quarter valued at $48,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

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.