Wells Fargo analyst Michael Turrin maintains $Autodesk (ADSK.US)$ with a buy rating, and adjusts the target price from $340 to $350.
According to TipRanks data, the analyst has a success rate of 49.1% and a total average return of 0.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Autodesk (ADSK.US)$'s main analysts recently are as follows:
Analysts maintain a positive outlook on Autodesk, citing stable indicators which affirm expectations for approximately 12% revenue growth in Q3 and projections aligning with prior Q4 forecasts. Although a degree of patience might be required from investors pending discussions on growth and margin opportunities until a new CFO assumes office, the current assessment indicates a favorable investment opportunity and risk/reward scenario.
Following a healthier result from its reseller survey, which showcased improving quota achievements and stronger growth expectations for the next twelve months, a positive outlook for the company is observed for the approaching quarter. It was mentioned that there had been some pauses on projects due to political/election risks, which have since been alleviated post-election. Moreover, leading macro indicators have started showing more positive trends.
Following generally upbeat quarter-end assessments, there's a positive outlook heading into the third quarter earnings. Improved demand trends have been noted, alongside observations from the U.K. reseller about advance activity prior to model roll-out. This scenario presents an upside potential for the third quarter results coupled with forecasts that align with expectations for the fourth quarter. Autodesk continues to be seen favorably as a promising prospect leading into early 2025.
Note:
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