Evercore ISI Keeps a Buy Rating on Autodesk (ADSK)


Evercore ISI analyst Kenneth Talanian maintained a Buy rating on Autodesk (ADSK) today and set a price target of $190. The company’s shares closed yesterday at $159.91.

Talanian noted:

“We attended Autodesk’s construction conference yesterday in San Francisco. We walked away further encouraged that the construction opportunity is a secular growth driver for the company. Though the area is nascent, the conference reinforced that there is considerable customer interest in digitizing the construction process. The company has made significant progress in building out its portfolio of construction solutions, in our view. We believe there is room for additional technical integrations which should further the construction opportunity for the company, in our opinion. See below / within for more on the construction opportunity. Compelling customer view. Autodesk’s construction conference was moderated by Don Henrich, VP ACS Field Operations, formerly Systems (acquired by ADSK).”

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 18.0% and a 70.0% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Check Point.

Currently, the analyst consensus on Autodesk is a Moderate Buy with an average price target of $179.64, a 12.3% upside from current levels. In a report issued on May 21, 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 April 30, the company reported a quarterly GAAP net loss of $24.2 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.

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