Amid market chatter of a potential transaction, Ansys (NASDAQ:ANSS) shares are up over 3% in the early session today. According to Bloomberg, the simulation software and solutions provider is evaluating options, including a sale.
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Reportedly, the development comes after Ansys attracted takeover interest. Although a final decision has yet to be made, the company has roped in advisers for a potential M&A deal. In a statement to Bloomberg, Ansys clarified, “M&A rumors are not uncommon in our industry, and it is our longstanding policy not to comment on them.”
Ansys caters to multiple industries, including industrial, aerospace, and automotive. The company has notched a steady uptick in its top line, as well as the bottom line, for multiple years now. Still, its shares have trended nearly 7% lower over the past six months. Recently, Ansys announced the departure of its CFO and Senior Vice President of Finance, Nicole Anasenes, in Q2 2024. Consequently, the company has embarked on a search for a new CFO.
What is the Stock Price Forecast for Ansys?
Overall, the Street has a Hold consensus rating on Ansys. Following a nearly 25% jump in the company’s share price over the past year, the average ANSS price target of $304.18 implies the stock may be fairly priced at current levels.
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