Autodesk (ADSK) Stock: $440 Price Target From Credit Suisse

By Amit Chowdhry ● Nov 28, 2021
  • The shares of Autodesk, Inc. (NASDAQ: ADSK) have received a price target of $440 from Credit Suisse. These are the details.

The shares of Autodesk, Inc. (NASDAQ: ADSK) have received a price target of $440 from Credit Suisse. And Credit Suisse analyst Phil Winslow had reduced the price target from $450 while maintaining an “Outperform” rating on the company shares.

Winslow adjusted the rating on the company shares following the quarterly results. While Autodesk was able to exceed the consensus revenue and EPS estimates in the third quarter, Winslow believes that supply chain disruption/labor shortages and FX headwinds created near-term guidance turbulence. But despite this, Winslow highlighted healthy underlying FQ3 results as underscoring management’s belief that macroeconomic/FX headwinds are transient.

These were the third quarter fiscal 2022 financial highlights:

— Total revenue increased 18 percent to $1,126 million;

— GAAP operating margin was 17 percent, down 1 percentage point;

— Non-GAAP operating margin was up 2 percentage points to 32 percent;

— GAAP diluted EPS was $0.61; Non-GAAP diluted EPS was $1.33;

— Cash flow from operating activities was $270 million; free cash flow was $257 million.

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