In a report released yesterday, Koji Ikeda from Bank of America Securities maintained a Hold rating on Autodesk, with a price target of $360.00.
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Koji Ikeda has given his Hold rating due to a combination of factors surrounding Autodesk’s current market position and future prospects. One key consideration is the upcoming Autodesk University event, which is expected to provide insights into the company’s strategy, particularly in the realm of AI and platform enhancements. While these developments have the potential to drive long-term growth, the immediate impact remains uncertain, warranting a cautious approach.
Furthermore, the company’s recent pricing adjustments, such as the more affordable tiers for Flow Studio, are seen as minor changes that do not significantly alter the company’s revenue dynamics. The anticipation of the Investor Day event on October 7, where management will discuss strategic goals and operating margin targets, also plays a role in maintaining a Hold rating. The lack of new quantitative metrics and the focus on qualitative commentary suggest that while there is potential for future growth, the current outlook remains balanced, justifying a neutral stance.
In another report released on August 29, J.P. Morgan also maintained a Hold rating on the stock with a $319.00 price target.
Based on the recent corporate insider activity of 53 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.