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UPDATE: Goldman Sachs Raises PT on Autodesk Following Disappointing F1Q14 Revenue

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In a report published Friday, Goldman Sachs analyst Heather Bellini reiterated a Buy rating on Autodesk (NASDAQ: ADSK), and raised the price target from $45.00 to $50.00.

In the report, Bellini noted, “F1Q14 revenue of $570mn (-3% yoy) fell well below the consensus forecast of $583mn and came in at the low end of guidance ($570-590mn). Excluding an FX headwind of $17mn, revenue was flat yoy. Non-GAAP EPS of $0.42 was considerably below the Street view of $0.45, with below-the-line items having a $0.01 headwind to non-GAAP EPS vs. our forecast (guidance was for $0.41-0.46). While top-line and non-GAAP EPS disappointed, deferred revenue came in at $851mn versus consensus of $790mn and CFO of $224mn compared to the Street at $171mn.”

Autodesk closed on Thursday at $39.78.

Latest Ratings for ADSK

Nov 2017Credit SuisseMaintainsOutperform
Nov 2017Canaccord GenuityMaintainsBuy
Nov 2017KeyBancMaintainsOverweight

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Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings


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