Autodesk Analyst Cuts Price Target By 17%; Hails Three New Cloud Environments

Anusuya Lahiri

Thu, Sep 29, 2022, 3:17 PM1 min read

In this article:

Mizuho analyst Matthew Broome maintained Autodesk Inc (NASDAQ: ADSK) with a Buy and cut the price target from $290 to $240.
This week ADSK held its annual user conference.
During the event, ADSK introduced three new verticalized cloud environments, currently in the early stages of development, to support operational workflows across each of its primary markets.
He views this approach as differentiated within the design industry. He believes it can more meaningfully transform customer operations as they transition to the cloud over the long term.
More broadly, he appreciates ADSK's strong value proposition and market position and expects its still-ramping subscription model to drive ongoing mid-teens revenue growth.
The price target cut reflects updated comps.
Price Action: ADSK shares traded lower by 1.99% at $187.18 on the last check Thursday.

Latest Ratings for ADSK

Date	Firm	Action	To
Feb 2022	Deutsche Bank	Maintains	Buy
Feb 2022	Morgan Stanley	Maintains	Equal-Weight
Feb 2022	Rosenblatt	Maintains	Buy

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Autodesk Analyst Cuts Price Target By 17%; Hails Three New Cloud Environments

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