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Fly News Breaks for January 2, 2020
Jan 2, 2020 | 08:03 EDT
Needham analyst Richard Valera downgraded Ansys to Hold from Buy, saying that the company's Discovery Live product has not lived up to his expectations that were created by its strong sales execution and the track record of its VP of Sales, while the stock's recent performance has "far outstripped" its earnings growth. The analyst still maintains a bullish view on Ansys fundamentals, but with multiple expansion of 2x relative to the market and the company peers, he sees its risk-reward as balanced.
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