Engineering simulation software and services provider Ansys Inc. is collaborating with Velodyne to develop software models of next-generation automotive lidar sensors to identify driving hazards for autonomous vehicles.
Ansys (ANSS) Chief Technology Officer, Prith Banerjee, said, “As part of Ansys’ AV ecosystem, Velodyne is helping to define the landscape of safe autonomous driving. Velodyne’s leading-edge automotive lidar greatly increases the safety and reliability of ADA, powering highly intelligent AVs that improve decision making across many complex edge case scenarios.”
Banerjee added, “Using VRXPERIENCE, OEMs will validate the lidar’s software stack and have full access to a validated sensor model while preserving Velodyne’s IP.” (See Ansys stock analysis on TipRanks)
Advanced driver assistance systems (ADAS) need to test and recognize edge case scenarios. Lidar technology locates and tracks objects across different situations, but to be validated, extensive physical testing is required, increasing the development cost of the system.
Under the collaboration, Velodyne is integrating a ‘black box’ sensor model into Ansys VRXPERIENCE, which is a real-time interactive driving simulator. This will provide the ability to rapidly model a large number of edge case driving scenarios across millions of miles, drastically lowering the number of physical tests needed and in turn, product development costs.
Recently, Needham analyst Richard Valera assigned the stock a Hold rating but did not set a price target.
Valera commented, “Ansys is a leader in the simulation and analysis market, which is benefiting from a secular trend towards more analysis earlier in the design process.”
Overall, the consensus on the Street is that Ansys is a Moderate Buy, based on 4 Buys, 3 Holds, and 1 Sell. The average analyst price target of $374.57 implies an upside potential of 2.1%. Shares have gained about 54.2% over the past year.
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