Autodesk Gets a Buy Rating from Credit Suisse


Credit Suisse analyst Brad Zelnick assigned a Buy rating to Autodesk (NASDAQ: ADSK) on May 25 and set a price target of $150. The company’s shares closed on Friday at $132.75.

Zelnick noted:

“We believe pricing incentives will continue to drive M2S migrations among the remaining ~2mn active non-subscribers. Lastly, while subscription consolidation is expected to create a near-term headwind for net subscription adds, collections upsells, less promotional activity, and an increasing proportion of lower-commission channel renewals within the sales mix will likely drive growth in ARPS and consequently ARR.”

According to TipRanks.com, Zelnick is a 4-star analyst with an average return of 9.5% and a 64.6% success rate. Zelnick covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ultimate Software, and Salesforce.com.

Currently, the analyst consensus on Autodesk is Strong Buy and the average price target is $155.40, representing a 17.1% upside.

In a report issued on May 14, Deutsche Bank also maintained a Buy rating on the stock with a $150 price target.

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Based on Autodesk’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $82.4 million. In comparison, last year the company had a GAAP net loss of $130 million.

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Autodesk, Inc. engages in the designing and developing multimedia software products. It includes Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit. The company was founded by John Walker in April 1982 and is headquartered in San Rafael, CA.

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