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 commented, "Autodesk is set to report Q2/FY25 results (ending July 31st) on Wednesday, August 21st, after market. We believe the Q2 demand environment across Autodesk’s three market segments has been relatively unchanged from Q1, with stable renewals, moderated new subscriber growth, on-going headwinds from weakness in the commercial real estate sector, and reflective of recent mechanical and infrastructure design software competitor outlooks that were largely in-line with our prior expectations. We expect Autodesk to report in-line revenue of $1,482.9m (up 10% y-o-y), with AEC up 11% y-o-y (driven by infrastructure spending) and AutoCAD/LT up 11% y-o-y. We are maintaining our FY25 revenue growth outlook of 10.2% (and 10.6% in FY26), and will be watching for the incremental positive impact from the transition to direct billing of customers in most geographies being rolled out this year. At current price levels, we are maintaining our target price of $290 and our Buy rating."

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 $255.26 yesterday.

You May Also Be Interested In

• Goldman Sachs (GS) Reiterated at Market Perform by Citizens on Constructive Backdrop
• Barclays Upgrades Keurig Dr Pepper (KDP) to Overweight
• RBC Capital Upgrades ICON plc (ICLR) to Outperform