Autodesk Inc (NASDAQ:ADSK) shares are trading higher Monday after activist investor Starboard Value purchased a stake of more than $500 million in the company and wrote a letter to shareholders pushing for changes.
U.S. stocks are gearing up for a cautious start following last week’s record run, with the index futures currently showing mixed sentiment. Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market.
A lower-than-expected inflation report for May ignited a bullish frenzy on Wall Street, with investors increasing their bets on rate cuts, bolstered by growing confidence that the Federal Reserve will ease its policy stance later this year as price pressures trend
Goldman Sachs analyst maintains Sell rating on AutoDesk Inc with lowered price target of $225. Believes company has strong competitive positioning and may achieve 40% operating margins in long term. Concerns about sustainability of FCF due to internal investigation.
Autodesk shares are trading lower Tuesday after the company reported its first-quarter financial results. Also, a purported stockholder derivative complaint was filed in the U.S. District Court that named the directors and Chief Strategy Officer as defendants and the company as a nominal defendant.