Evercore ISI Believes Autodesk (ADSK) Won’t Stop Here


Evercore ISI analyst Kenneth Talanian maintained a Buy rating on Autodesk (ADSK) on July 17 and set a price target of $190. The company’s shares opened today at $170.31, close to its 52-week high of $178.95.

Talanian commented:

“We believe this report should be viewed as a slight negative for ADSK given the m/m decline in the overall index, the AIA notes that work in pipelines may start to get worked off despite current robust backlogs (see quote from AIA Chief Economist below). As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~40% of revenue coming from its Construction segment in F19.”

According to TipRanks.com, Talanian is a 5-star analyst with an average return of 20.3% and a 75.6% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Check Point.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Autodesk with a $173.56 average price target, implying a 1.9% upside from current levels. In a report released today, Citigroup also initiated coverage with a Buy rating on the stock with a $210 price target.

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The company has a one-year high of $178.95 and a one-year low of $117.72. Currently, Autodesk has an average volume of 1.65M.

Based on the recent corporate insider activity of 59 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.

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