Autodesk (ADSK) Received its Third Buy in a Row

After RBC Capital and Barclays gave Autodesk (NASDAQ: ADSK) a Buy rating last month, the company received another Buy, this time from Evercore ISI. Analyst Kenneth Talanian maintained a Buy rating on Autodesk yesterday and set a price target of $190. The company’s shares closed yesterday at $154.69.

Talanian said:

“We believe the day will mostly follow past analyst day agendas with a business deep dive and a financial update. We expect there to be an additional focus on construction given the end market’s importance to the F20 to F23 timeframe. Though we do not expect an update to the F20 targets offered previously, we continue to view the expectations as de-risked. Further, we expect the company will at least reiterate F23 targets. See below / within for additional thoughts. Business deep dive. As with past analyst days, we expect a good portion of the content to be devoted to a deep dive on each area of Autodesk’s business. We believe that given the growing portfolio of solutions, the company is likely to offer product demos during the day as well.”

According to, Talanian is a 5-star analyst with an average return of 20.5% and a 82.3% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.

Currently, the analyst consensus on Autodesk is a Moderate Buy with an average price target of $175.85, which is a 13.7% upside from current levels. In a report issued on March 20, Barclays also reiterated a Buy rating on the stock with a $199 price target.

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Based on Autodesk’s latest earnings release for the quarter ending January 31, the company reported a quarterly net profit of $64.7 million. In comparison, last year the company earned revenue of $553 million and had a GAAP net loss of $174 million.

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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.

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