Wedbush Cuts Price Target on ANSYS (ANSS) Ahead of 4Q Results - Reiterates Outperform

Wedbush maintained an Outperform rating on ANSYS (NASDAQ: ANSS), and cut the price target to $94.00 (from $98.00), ahead of the company's 4Q results. Wedbush estimates that ANSS will report an in-line 4Q, but a potentially more challenging FY16 outlook. The company will announce results before the market open on Thursday, February 25th, followed by a conference call at 10:30 am ET.

Analyst Steve Koenig commented, "Our 4Q estimates of $258M / $0.89 compare to consensus of $258M / $0.88 and the guidance range of $252M - $260M / $0.83 - $0.88. We think results will likely depend on whether large deal signings can mitigate potential continued weakness in the BRIC countries and South Korea. While we remain hopeful that 4Q may be satisfactory, we think it’s more likely than not that ANSS’s FY16 revenue guidance may need to be reduced to reflect incremental macroeconomic headwinds."

For an analyst ratings summary and ratings history on ANSYS click here. For more ratings news on ANSYS click here.

Shares of ANSYS closed at $84.06 yesterday.

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