Street View: Brokerages lift Autodesk PT on strong Q3, cloud infrastructure demand
Design software maker Autodesk ADSK.O on Tuesday forecast Q4 revenue and profit above Wall Street estimates, on growing demand for its cloud-based design tools
Shares of ADSK rise nearly 3.2% to about $303.8
Twenty-five of 31 brokerages rate the stock "buy" or higher and six "hold"; their median PT is $375, according to data compiled by LSEG
UPBEAT Q3 RESULTS AND STEADY SUBCRIPTION RENEWALS
Rosenblatt (lifts PT to $375 from $355) says ADSK's revenue continues to grow, driven by civil infrastructure, data center project activity and large customer subscription renewals
Deutsche Bank (lifts PT to $375 from $345) says upbeat Q3 results driven by strength in data centers and infrastructure along with share gains in construction; sees trends as sustainable for the next several quarters
Macquarie (lifts PT to $400 from $380) cites strong execution in architecture, engineering, construction and operations, and progress on direct transaction model and operating leverage amidst an uncertain macro environment
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