Evercore ISI analyst Kenneth Talanian maintained a Buy rating on Autodesk (ADSK) on May 20 and set a price target of $190. The company’s shares closed yesterday at $174.23, close to its 52-week high of $178.95.
Talanian observed:
“We believe expectations are reasonable going into F1Q20, which is typically a seasonally light quarter for the company. We continue to believe investors should focus on ARR growth and FCF generation this year as the company emerges from its subscription transition. Given the expected seasonality we do not expect this quarter to define the trend for the year but look for progress towards F20 ARR growth. See below / within for additional thoughts.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 20.8% and a 78.0% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Check Point.
Autodesk has an analyst consensus of Strong Buy, with a price target consensus of $183, representing a 5.0% upside. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $200 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 had a GAAP net loss of $82.4 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.
