Goldman Sachs Analyst Questions Autodesk's Revenue Growth And Total Addressable Market Targets
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analyst Kash Rangan maintained a Sell rating on Autodesk Inc (NASDAQ:ADSK) and lowered the price target from $230 to $225. Despite recognizing Autodesk's strong market position and operating margins, Rangan expressed concerns about the company's reliance on price for growth and the achievability of its $95 billion TAM by fiscal 2027. The analyst also highlighted potential issues with the sustainability of Autodesk's mid-term Free Cash Flow.
June 12, 2024 | 4:40 pm
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Goldman Sachs analyst Kash Rangan maintained a Sell rating on Autodesk and lowered the price target from $230 to $225. Concerns were raised about the company's reliance on price for growth and the achievability of its $95 billion TAM by fiscal 2027. The analyst also highlighted potential issues with the sustainability of Autodesk's mid-term Free Cash Flow.
The analyst's Sell rating and lowered price target indicate a negative outlook on Autodesk's stock. Concerns about the company's reliance on price for growth and the achievability of its TAM target suggest potential challenges ahead. Despite the stock trading higher, the overall sentiment from the analyst is bearish.
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