In a report released yesterday, Koji Ikeda from Bank of America Securities reiterated a Hold rating on Autodesk, with a price target of $365.00.
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Koji Ikeda has given his Hold rating due to a combination of factors that reflect both positive and cautious elements in Autodesk’s performance and outlook. Autodesk reported strong quarterly results that exceeded expectations, and its fiscal year guidance was revised upwards, showcasing improved execution and predictability. However, despite these positive developments, the guidance remains conservative, particularly in the context of broader macroeconomic uncertainties.
Furthermore, while Autodesk’s AECO and manufacturing segments demonstrated robust growth, and the company’s AI monetization strategies appear promising, there are still execution risks to consider. The price objective was raised to $365, reflecting increased confidence in Autodesk’s strategies, yet the valuation is based on a discount compared to peers due to these risks. This balanced view of positive long-term potential against near-term caution is why Koji Ikeda maintains a Hold rating on Autodesk’s stock.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADSK in relation to earlier this year.