William Blair analyst Dylan Becker has maintained their bullish stance on ADSK stock, giving a Buy rating today.
Dylan Becker has given his Buy rating due to a combination of factors including Autodesk’s strong performance and promising future prospects. The company’s revenue exceeded expectations, with a 13% growth on a constant-currency basis, which was largely due to widespread momentum and robust expansion activities. Autodesk has also been successful in securing a record number of substantial deals, particularly in the global construction sector, and has seen continued contributions from water to its EBA success. This performance reflects broad-based adoption of Autodesk’s platform, leveraging data synergies across its network.
Furthermore, the company’s guidance for fiscal 2025 suggests continued revenue growth, expected to be driven by factors such as the implementation of a new transaction model, the recent Payapps acquisition, and the handling of incremental FX headwinds. Becker’s outlook is also supported by the ongoing healthy pipeline activity, underscoring the strategic importance of Autodesk’s tools and the resilience of its diversified market exposure. The company is well-positioned to benefit from several years of digitization momentum across its core verticals, which is anticipated to uphold a strong Rule-of-45 framework, reinforcing Becker’s Outperform rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $310.00 price target.
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Autodesk (ADSK) Company Description:
Autodesk, Inc. designs and develops software for the architecture, engineering, manufacturing, construction, and media and entertainment industries. Moreover, its digital media and entertainment solutions consists of tools for digital sculpting, animation, effects, modeling, rendering, and compositing for design visualization, visual effects, and games production.
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- ADSK Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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