Autodesk (ADSK): Pricing Remains A Concern, Keeping Neutral Rating - Wedbush
- Wall Street rises, buoyed by economic data; Dow sets high
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Amazon (AMZN) Could Open Over 2,000 Brick-and Mortar Groceries if Tests Succeed - DJ; Kroger (KR) on Watch
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- After-Hours Stock Movers 12/05: (TXMD) (COUP) (BOBE) Higher; (SB) (LXRX) (STWD) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Wedbush analyst, Steve Koenig, reiterated his Neutral rating on shares of Autodesk (NASDAQ: ADSK) but raised his price target to $76 after 3Q results continued a pattern of solid execution against subscription volume goals.
However, the analyst notes that these goals require acceleration in coming quarters and years at the same time that there is continuing deterioration in realized pricing. The analyst thinks a skew in subscription demand towards lower-priced products, coupled with recent price reductions, will pressure pricing for several more quarters.
The valuation "looks full" to the analyst keeping him on the sidelines for a better entry price. The new PT of $76 is up from $70.
Shares of Autodesk closed at $75.26 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- Cowen Reiterates Outperform on Costco Wholesale (COST) Ahead of 4Q
- Jefferies Raises Price Target on Illinois Tool Works (ITW) Following Analyst Day
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!