Shares of Autodesk Inc (NASDAQ:ADSK) rallied in early trading on Friday,after the company reported its fourth-quarter results.
Here are the key analyst insights:
- DA Davidson analyst Clark Wright maintained a Buy rating, while lowering the price target from $375 to $325.
- BTIG analyst Nick Altmann reiterated a Buy rating, while slashing the price target from $365 to $300.
- Rosenblatt Securities analyst Blair Abernethy reaffirmed a Buy rating and price target of $330.
Check out other analyst stock ratings.
DA Davidson: Autodesk reported total revenues of $1,957 million, topping consensus of $1,916 million, Wright said in a note. Normalized revenue growth, excluding currency and transaction model accounting, came in at 14%, accelerating from 12% in the previous quarter and around 9% in the year-ago period, he added.
“Like prior quarters this year, upside relative to internal expectations was driven by AECO, with emerging markets and …