In a report released today, Koji Ikeda from Oppenheimer upgraded Autodesk (ADSK) to Buy, with a price target of $300.00. The company’s shares closed last Wednesday at $243.90, close to its 52-week high of $248.35.
According to TipRanks.com, Ikeda is a top 100 analyst with an average return of 42.4% and a 94.6% success rate. Ikeda covers the Technology sector, focusing on stocks such as Coupa Software, SPS Commerce, and Liveperson.
Currently, the analyst consensus on Autodesk is a Moderate Buy with an average price target of $228.75, implying a -5.3% downside from current levels. In a report issued on June 24, Goldman Sachs also maintained a Buy rating on the stock with a $265.00 price target.
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Based on Autodesk’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $886 million and net profit of $66.5 million. In comparison, last year the company earned revenue of $736 million and had a GAAP net loss of $24.2 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. The firm also offers development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production. The company was founded by John Walker in April 1982 and is headquartered in San Rafael, CA.
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