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ADSK

Autodesk

$130.00

-0.28 (-0.21%)

08:33
11/29/17
11/29
08:33
11/29/17
08:33

Autodesk price target lowered to $135 from $140 at Credit Suisse

Credit Suisse analyst Michael Nemeroff lowered his price target for Autodesk to $135 from $140 saying that while it was a good Q3, lower sub guide could weigh on shares. The analyst reiterates an Outperform rating on the shares.

  • 29

    Nov

  • 04

    Dec

ADSK Autodesk
$130.00

-0.28 (-0.21%)

11/29/17
ADAM
11/29/17
NO CHANGE
Target $135
ADAM
Buy
Autodesk weakness would provide good entry point, says Canaccord
Canaccord analyst Richard Davis called Autodesk's Q3 results "squishy" in that the results were short of investor expectations in both subscription additions and ARR. With the shares trading at the upper end of historic valuation, the disappointment caused a selloff which Davis feels could provide a good entry point if sustained. Davis reiterated his Buy rating and lowered his price target to $135 from $140 on Autodesk, adding he would get more bullish if the shares continue to weaken over the next few days.
11/29/17
11/29/17
DOWNGRADE
Target $126

Neutral
Autodesk downgraded to Neutral at Wedbush
As previously reported, Wedbush analyst Steve Koenig downgraded Autodesk to Neutral from Outperform based on a surprisingly slow ramp in free cash flow, potentially higher attrition from planned maintenance price increases, and higher than expected required investments in digital infrastructure and cloud offerings, offset by restructuring actions. Further, the analyst sees increased risk of a meaningful shortfall to the 2020/2019 free cash flow target due to heightened attrition from maintenance price hikes. Koening also lowered his price target on the shares to $126 from $138.
11/29/17
BARD
11/29/17
NO CHANGE
Target $130
BARD
Outperform
Autodesk weakness a buying opportunity, says Baird
Baird analyst Rob Oliver said Autodesk shares were priced for perfection ahead of its Q3 results, sparking a selloff in the shares following the report. The analyst said the weakness is a buying opportunity as subscription metrics were solid. He noted the company announced a restructuring plan which should be disruptive short-term, but acknowledges its recurring business model obviates the need for a substantial sales channel presence. Oliver reiterated his Outperform rating and $130 price target on Autodesk shares.
11/29/17
MSCO
11/29/17
NO CHANGE
Target $143
MSCO
Overweight
Investors should not 'overreact' to Autodesk Q3 report, says Morgan Stanley
Morgan Stanley analyst Keith Weiss noted that Autodesk's 146,000 net subscription additions in Q3 fell short of the consensus expectation of 150,000 and that the company lowered its full-year subscription guidance. However, he added that investors should not "overreact" to that data, noting the miss was driven by low value subscriptions amid the company's shift from high volume subscriptions to higher value subscriptions. Weiss is still confident Autodesk can get to an ARR base of $3.3B and keeps a $143 price target and Overweight rating on the shares.

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