Evercore ISI analyst Kenneth Talanian maintained a Buy rating on Autodesk (ADSK) yesterday and set a price target of $175. The company’s shares opened today at $159.64, close to its 52-week high of $161.51.
Talanian said:
“We believe this report should be viewed as a positive for ADSK given the m/m increase in the overall index and broad-based strength with all regions and sectors >50, with minimal impact noted from the government shutdown (see quote from AIA Chief Economist below). As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~38% of revenue coming from its Construction segment in F18.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 20.1% and a 82.7% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.
Autodesk has an analyst consensus of Moderate Buy, with a price target consensus of $157.75.
See today’s analyst top recommended stocks >>
Based on Autodesk’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $23.7 million. In comparison, last year the company earned revenue of $553 million and had a GAAP net loss of $174 million.
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.
