We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Aspen's (AZPN) DGM Software Continues to Gain Strong Momentum
Read MoreHide Full Article
Aspen Technology (AZPN - Free Report) recently announced that Omaha Public Power District (“OPPD”) will be leveraging its cutting-edge Digital Grid Management (DGM) to achieve net zero carbon production by 2050.
OPPD will leverage the DGM suite to monitor, schedule and optimize the performance of their energy assets while maintaining grid reliability. OPPD serves a population of 885,000 people across 5,000 square miles in Nebraska. The integration of the DGM solution with OPPD’s grid will enable the utility to manage distributed energy resources (DERs) efficiently.
The expansion of the partnership between Aspen and OPPD is the latest milestone in a six-year collaboration between the two companies. Through this partnership, OPPD will implement the Aspen OSI Distributed Energy Resource Management System (DERMS), a core component of the DGM suite. DERMS provides OPPD with a unified platform for managing both transmission and distribution operations.
OPPD will be able to get real-time control and optimization across its entire grid by integrating OSI DERMS with Aspen generation, transmission, advanced distribution management and outage management systems.
Continued momentum in the DGM suite is a key growth driver for Aspen. In fiscal 2024, ACV growth for the DGM segment soared 40%. Strength in DGM products, along with extensive funding, led to the expansion. Management expects factors like global electrification and grid upgrades to benefit the DGM segment in the long run.
The company is likely to benefit as customers are exploring sustainability solutions in critical minerals mining and low-carbon fuel alternatives. It aims to launch unique microgrid solutions under the DGM product line in the first quarter of fiscal 2025. The initiative, which is part of the V14.4 update, is likely to improve the management and monitoring of microgrid assets. With this solution, the company is looking to expand its footprint in the Chemicals and Refining sectors, which increasingly require a reliable power supply.
In February 2024, AZPN announced that its DGM suite is being leveraged by a leading power company in India — Adani Electricity. Aspen’s OSI digital grid management solutions will assist Adani Electricity in predicting and avoiding outages.
In the last reported quarter, Aspen reported revenues of $342.9 million compared with $320.6 million in the year-ago quarter. The top line beat the Zacks Consensus Estimate by 8.7%. Apart from DGM, the company witnessed a healthy uptake of the Manufacturing & Supply Chain suite amid headwinds in the chemical space.
Aspen currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 11.7% compared with the sub-industry’s growth of 39.5% in the past year.
Image Source: Zacks Investment Research
Key Picks
Arista Networks, Inc. (ANET - Free Report) , sporting a Zacks Rank of #1, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers. You can see the complete list of today’s Zacks #1 Rank stocks here.
It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, Arista delivered an earnings surprise of 8.25%
CommScope Holding Company, Inc. (COMM - Free Report) , sporting a Zacks Rank of #1, is a premier provider of infrastructure solutions, including wireless and fiber optic solutions, for the core, access and edge layers of communication networks. COMM has a long-term growth expectation of 18.15%.
Harmonic Inc. (HLIT - Free Report) enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5% and currently sports a Zacks Rank of #1.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Aspen's (AZPN) DGM Software Continues to Gain Strong Momentum
Aspen Technology (AZPN - Free Report) recently announced that Omaha Public Power District (“OPPD”) will be leveraging its cutting-edge Digital Grid Management (DGM) to achieve net zero carbon production by 2050.
OPPD will leverage the DGM suite to monitor, schedule and optimize the performance of their energy assets while maintaining grid reliability. OPPD serves a population of 885,000 people across 5,000 square miles in Nebraska. The integration of the DGM solution with OPPD’s grid will enable the utility to manage distributed energy resources (DERs) efficiently.
The expansion of the partnership between Aspen and OPPD is the latest milestone in a six-year collaboration between the two companies. Through this partnership, OPPD will implement the Aspen OSI Distributed Energy Resource Management System (DERMS), a core component of the DGM suite. DERMS provides OPPD with a unified platform for managing both transmission and distribution operations.
OPPD will be able to get real-time control and optimization across its entire grid by integrating OSI DERMS with Aspen generation, transmission, advanced distribution management and outage management systems.
Continued momentum in the DGM suite is a key growth driver for Aspen. In fiscal 2024, ACV growth for the DGM segment soared 40%. Strength in DGM products, along with extensive funding, led to the expansion. Management expects factors like global electrification and grid upgrades to benefit the DGM segment in the long run.
The company is likely to benefit as customers are exploring sustainability solutions in critical minerals mining and low-carbon fuel alternatives. It aims to launch unique microgrid solutions under the DGM product line in the first quarter of fiscal 2025. The initiative, which is part of the V14.4 update, is likely to improve the management and monitoring of microgrid assets. With this solution, the company is looking to expand its footprint in the Chemicals and Refining sectors, which increasingly require a reliable power supply.
In February 2024, AZPN announced that its DGM suite is being leveraged by a leading power company in India — Adani Electricity. Aspen’s OSI digital grid management solutions will assist Adani Electricity in predicting and avoiding outages.
In the last reported quarter, Aspen reported revenues of $342.9 million compared with $320.6 million in the year-ago quarter. The top line beat the Zacks Consensus Estimate by 8.7%. Apart from DGM, the company witnessed a healthy uptake of the Manufacturing & Supply Chain suite amid headwinds in the chemical space.
Aspen currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 11.7% compared with the sub-industry’s growth of 39.5% in the past year.
Image Source: Zacks Investment Research
Key Picks
Arista Networks, Inc. (ANET - Free Report) , sporting a Zacks Rank of #1, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets such as cloud titans, enterprises, financials and specialty cloud service providers. You can see the complete list of today’s Zacks #1 Rank stocks here.
It delivered a trailing four-quarter average earnings surprise of 15.02%. In the last reported quarter, Arista delivered an earnings surprise of 8.25%
CommScope Holding Company, Inc. (COMM - Free Report) , sporting a Zacks Rank of #1, is a premier provider of infrastructure solutions, including wireless and fiber optic solutions, for the core, access and edge layers of communication networks. COMM has a long-term growth expectation of 18.15%.
Harmonic Inc. (HLIT - Free Report) enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally. HLIT delivered a trailing four-quarter average earnings surprise of 32.5% and currently sports a Zacks Rank of #1.