After Credit Suisse and Oppenheimer gave Autodesk (NASDAQ: ADSK) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Monika Garg maintained a Buy rating on Autodesk yesterday and set a price target of $168. The company’s shares closed on Friday at $131.50.
Garg said:
“We visited Autodesk on our recent bus tour, and met with Debbie Clifford, VP of Investor Relations. We come away with reinforced confidence in the Company’s opportunities in construction, which is further strengthened by the recent announced acquisition of PlanGrid. Autodesk is executing well on its subscription transition, and we remain confident Autodesk can achieve $6 in FCF/share in FY20. Remain Buyers. Construction opportunity could power next leg of growth. Autodesk focused discussions on construction, which is a top initiative and new growth opportunity for the Company. Autodesk plans to continue building out its construction portfolio organically and inorganically. With the acquisition of PlanGrid, Autodesk plans to attack the construction market from multiple angles.”
According to TipRanks.com, Garg is a 5-star analyst with an average return of 20.5% and a 64.3% success rate. Garg covers the Technology sector, focusing on stocks such as Oracle Corp, Wix.com Ltd, and Guidewire.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Autodesk with a $153.33 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $159.94 and a one-year low of $101.55. Currently, Autodesk has an average volume of 2.35M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Autodesk, Inc. engages in the design of software and services. Its products include Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit.
