Autodesk (ADSK) PT Raised to $295 at Rosenblatt

Rosenblatt analyst Blair Abernethy raised the price target on Autodesk (NASDAQ: ADSK) to $295.00 (from $290.00) while maintaining a Buy rating.

The analyst commented: "Autodesk reported Q2 FY25 results with revenue of $1,505m, which was ~1.5% above expectations and up 12% y-o-y. With Q2 op margins at 37%, Non-GAAP EPS came in at $2.15 (ahead of our $2.01 and consensus $2.0). The Company noted a “smooth launch” of its direct customer billing transaction model in the key North American market in June. Autodesk plans launches in Western Europe in September and Japan in November. With a stable environment in Q2 and the direct billing program progressing, Autodesk increased its FY25 revenue guidance to ~11% growth (from 9-11% previously) and maintained an op margin outlook of 35-36% (inclusive of forex and billing transition drag of ~2-2.5%). Post Q2, we are increasing our estimates, which moves our target price to $295 (was $290), and maintaining our Buy rating."

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