Evercore ISI analyst Kenneth Talanian assigned a Buy rating to Autodesk (NASDAQ: ADSK) today and set a price target of $150. The company’s shares closed yesterday at $136.56, close to its 52-week high of $142.94.
Talanian noted:
“We believe this report should be viewed as neutral for ADSK given the continued increase in demand for architecture services but some variation in business conditions (see quote from AIA Chief Economist below). As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~42% of revenue coming from its Construction segment in F18.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 21.2% and a 78.8% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Symantec Corp, and Check Point.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Autodesk with a $154.75 average price target.
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The company has a one-year high of $142.94 and a one-year low of $101.55. Currently, Autodesk has an average volume of 1.83M.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.
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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.
