Morgan Stanley analyst Elizabeth Porter has reiterated their bullish stance on ADSK stock, giving a Buy rating today.
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Elizabeth Porter has given her Buy rating due to a combination of factors including Autodesk’s strong performance in the third quarter and its positive outlook for the future. The company has consistently exceeded expectations, with a notable increase in revenue and billings growth, as well as improved operating margins. This consistent execution and stable macroeconomic environment have contributed to a favorable outlook for the second half of the fiscal year and beyond.
Porter highlights several key factors that bolster confidence in Autodesk’s ability to achieve its long-term operating margin targets. These include cost discipline, operating leverage, and efficiencies in sales and marketing, which are expected to benefit future quarters. Additionally, Autodesk’s shares are trading at a discount compared to its peers, providing an attractive investment opportunity. The combination of these factors supports the Buy rating, with expectations of continued growth in earnings per share and free cash flow.
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.