Autodesk Gets a Buy from Evercore ISI

By Ryan Adsit

Evercore ISI analyst Kenneth Talanian reiterated a Buy rating on Autodesk (NASDAQ: ADSK) today and set a price target of $96. The company’s shares closed yesterday at $86.41.

Talanian wrote:

“We believe the strength in this report should be viewed as a positive for ADSK, which generates a sizable portion of its business from architecture firms with ~43% of revenue coming from its Architecture, Engineering, and Construction segment in FY17.”

According to TipRanks.com, Talanian is a 1-star analyst with an average return of -1.1% and a 53.8% success rate. Talanian covers the Technology sector, focusing on stocks such as Palo Alto Networks, Microsoft Corp, and Proofpoint Inc.

Currently, the analyst consensus on Autodesk is Moderate Buy and the average price target is $93.75, representing an 8.5% upside.

In a report issued on April 12, Canaccord Genuity also reiterated a Buy rating on the stock with a $105 price target.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. Last month, Mary Mcdowell, a Director at ADSK sold 20,000 shares for a total of $1,758,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Autodesk, Inc. engages in the designing and developing multimedia software products. It includes Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit. The company was founded by John Walker in April 1982 and is headquartered in San Rafael, CA.