In a report released yesterday, Kenneth Talanian from Evercore ISI maintained a Buy rating on Autodesk (ADSK), with a price target of $190. The company’s shares closed last Monday at $145.52.
Talanian observed:
“We believe, however, that expectations leading into F2Q20 are reasonable and the company maintains a number of levers to hit their F20 and F23 FCF targets. We continue to point investors to ARR and FCF as indicators of ADSK’s growth and profitability trends. As with F1Q, we do not expect F2Q to define the year as the results are mostly contingent on performance in F2H20.”
According to TipRanks.com, Talanian is a 5-star analyst with an average return of 14.3% and a 63.0% success rate. Talanian covers the Technology sector, focusing on stocks such as CyberArk Software, Proofpoint Inc, and Symantec Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Autodesk with a $172.70 average price target, representing a 18.5% upside. In a report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $200 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 1.86M.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADSK in relation to earlier this year.
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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.
