In a report released yesterday, 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 $192.51, close to its 52-week high of $196.44.
Materne wrote:
“We look forward to hearing more about this on the call. ACV in 1Q was up 7% y/y in c/c to $303.5M, which we would like to have seen come in closer to the 9% expected for the year (on a reported basis at the midpoint). Looking ahead, mgmt. guided FY19 revenue above prior consensus at the midpoint, or ~10-14% y/y growth. Non-GAAP operating margin guidance for FY19 was maintained at 43-44%, slightly below consensus at the midpoint. This guidance likely proves conservative as we saw throughout FY18. ACV guidance for FY19 calls for ~8-11% y/y growth. Further, OCF guidance of $470-510M was slightly below prior consensus at midpoint.”
According to TipRanks.com, Materne is a top 100 analyst with an average return of 31.2% and a 84.3% success rate. Materne covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Check Point.
Ansys has an analyst consensus of Moderate Buy, with a price target consensus of $189.83.
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Based on Ansys’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $153 million. In comparison, last year the company had a net profit of $84.28 million.
Based on the recent corporate insider activity of 71 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.
