Rosenblatt Remains Sidelined on Autodesk (ADSK) Ahead of 2Q Report
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Rosenblatt reiterates a Neutral rating and $54.00 price target on Autodesk (NASDAQ: ADSK) ahead of the company's 2Q earnings report.
Street expectations for ADSK's revenue is $511M and ($0.14) loss, in the middle of the company's guidance.
Analyst Kirk Adams commented, "Autodesk reports their 2Q17 on Thursday, August 25th. Street expectations are for revenue of $511M and ($0.14) loss, smack dab in the middle of company guidance. We are slightly lower on revenues and a little better ($0.12) on the loss. With the transition to subscription, a lower revenue number should be positive as it means that the transition to subscription is happening a little faster than expected. We still believe that demand is good across their geographies."
Shares of Autodesk closed at $63.46 yesterday.
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