William Blair analyst Dylan Becker has maintained their bullish stance on ADSK stock, giving a Buy rating on April 12.
Dylan Becker has given his Buy rating due to a combination of factors surrounding Autodesk’s recent update on its delayed annual 10-K filing. Although the company did not meet the initial 15-day extension period for filing, the ongoing internal investigation—focusing on free cash flow and non-GAAP operating margin practices—does not seem to compromise any previously released financial statements or the financial outlook presented in their February earnings release. Becker emphasizes that the current situation is not anticipated to affect the trading or listing of Autodesk’s stock, highlighting the company’s commitment to maintaining corporate governance and transparency during the investigation.
Becker’s confidence in the company’s stock also stems from the procedural timeline afforded by Nasdaq in the event of non-compliance with the listing rules. Autodesk is expected to receive a notice allowing for a 60-day period to present a plan to regain compliance, which can be extended by an additional 180 days. Management’s proactive approach to resolving the filing delay, along with the perceived adequate time frame to achieve compliance, underpins Becker’s Buy rating, suggesting a favorable risk/reward scenario for investors in Autodesk’s shares.
Becker covers the Technology sector, focusing on stocks such as Autodesk, Altair Engineering, and Unity Software. According to TipRanks, Becker has an average return of 5.5% and a 53.01% success rate on recommended stocks.
In another report released on April 12, Stifel Nicolaus also maintained a Buy rating on the stock with a $316.00 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.
