Rosenblatt Reiterates Buy Rating on Autodesk (ADSK)

Rosenblatt analyst Blair Abernethy reiterated a Buy rating and $290.00 price target on Autodesk (NASDAQ: ADSK).

The analyst comments "Our $290 target price is based upon our average DCF, EV/FCF and EV/S multiples, which implies a ~16% return from current levels. Autodesk remains our top pick for 2H24 in the Design Software segment, and we note that Autodesk will report its Q2-25 results on Aug 29th, 2024, after market close. We also continue to watch activist Starboard Value’s efforts to drive change at Autodesk, including improved oversight and longer-term margin expansion. Autodesk is trading at ~9.9x EV/S (FY25e ending January 31st), which we view as being below the midpoint of comparable Design Software vendors at ~10x. Our $290 target price equates to ~9.5x EV/S on our FY26 estimate, and we remain a Buy on the stock (based on $249.91 Autodesk stock price)."

For an analyst ratings summary and ratings history on Autodesk click here. For more ratings news on Autodesk click here.

Shares of Autodesk closed at $249.91 yesterday.

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