Koji Ikeda, an analyst from Bank of America Securities, maintained the Hold rating on Autodesk. The associated price target remains the same with $360.00.
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Koji Ikeda has given his Hold rating due to a combination of factors that reflect both optimism and caution regarding Autodesk’s future prospects. The analyst acknowledges the positive outlook following Autodesk’s investor day, particularly with the company’s AI strategy aimed at enhancing monetization and product usage. The management’s projection of a larger total addressable market by FY29 and the potential for operating margin expansion are seen as promising indicators.
However, Ikeda maintains a Hold rating to balance these positives against certain execution risks. While Autodesk’s business model is durable and its margin profile is improving, there are uncertainties related to the implementation of its consumption-based monetization strategy and the evolving pricing and packaging models. Additionally, while confident in the company’s technology vision and go-to-market strategy, the analyst notes that the achievement of margin targets by FY29 involves several variables, suggesting a cautious approach is warranted.
According to TipRanks, Ikeda is a 5-star analyst with an average return of 11.7% and a 57.00% success rate. Ikeda covers the Technology sector, focusing on stocks such as Autodesk, Gitlab, and Datadog.