In a report issued on May 2, Kirk Materne from Evercore ISI maintained a Hold rating on Ansys (ANSS), with a price target of $155. The company’s shares closed yesterday at $192.60, close to its 52-week high of $197.05.
Materne wrote:
“We believe the business is likely on track to at least meet full year results but it is too early in the year to have full visibility. We remain encouraged by the company’s keen focus on selling their solutions into large emerging trends (5G, autonomous vehicles, etc.) as well the initial progress with partnerships with firms such as PTC. We believe ANSYS’ open ecosystem approach will likely lead them to pursue additional partnerships over time.”
According to TipRanks.com, Materne is ranked #92 out of 5194 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ansys with a $195.50 average price target, a 1.5% upside from current levels. In a report issued on May 3, RBC Capital also maintained a Hold rating on the stock with a $210 price target.
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The company has a one-year high of $197.05 and a one-year low of $136.80. Currently, Ansys has an average volume of 410.9K.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock.
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ANSYS, Inc. engages in the development and marketing of engineering simulation software and services. Its product portfolio includes ANSYS Workbench, ANSYS Engineering Knowledge Management, computing product suite, geometry handling solutions, and meshing technology. The company was founded by John A. Swanson in 1970 and is headquartered in Canonsburg, PA.
