Evercore ISI Assigns a Buy Rating on Autodesk


In a report issued on May 21, Kenneth Talanian from Evercore ISI assigned a Buy rating to Autodesk (NASDAQ: ADSK), with a price target of $150. The company’s shares closed yesterday at $138.92, close to its 52-week high of $141.26.

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 17.9% and a 81.3% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.

Currently, the analyst consensus on Autodesk is Strong Buy and the average price target is $155.79, representing a 12.1% upside.

In a report issued on May 10, Credit Suisse 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 January 31, the company reported a quarterly revenue of $553 million and GAAP net loss of $174 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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