ANSYS (ANSS) PT Raised to $371 at Citi

Citi analyst Tyler Radke raised the price target on ANSYS (NASDAQ: ANSS) to $371.00 (from $361.00) while maintaining a Neutral rating.

The analyst comments "ANSS delivered a solid 4Q print with ACV beating consensus estimates by 5 pts and revenue by 4 pts on a cc basis. The out performance in revenue was mainly from lease licenses which grew 10% y/y and were 5/7 pts ahead of citi/consensus expectations. Profitability was also strong with operating margins beating estimates by 3 pts and EPS ahead of estimates by ~11 pts. The company will be suspending results/guidance going forward with the ongoing transaction. We remain Neutral rated on the stock with the current transaction with SNPS and still see some concerns on regulatory approval. We increase our top-line growth targets by <1pt which moves our TP to $371 implying 32x FY26 EV/FCF."

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