ANSYS Price Target Lowered to $282 From $420 at Berenberg Bank
<p>Berenberg Bank analysts lowered their price target on <a href='https://financialmodelingprep.com/financial-summary/ANSS'>ANSYS, Inc. (NASDAQ:ANSS)</a> to $282 from $420 on the back of a slight estimate cut to reflect some slowdown in H2/22 and H1/23 and the impact of higher yields. </p>
<p>According to the analysts, the company is the leading simulation provider globally with both depth and breadth in its product offerings that they believe will help outgrow the market over the next few years. Design software is cyclical but diverse geographic/vertical exposure, the company’s shift to multi-year contracts, growing share of recurring revenue, customer R&D that is resilient to macro headwinds, and a return to free cash flow growth underpin the analyst’s Buy rating on the company. </p>
<p>The company has a 25% share and is growing above market growth rates of 8-10%, which the analysts expect will continue long term.</p>

NASDAQ:ANSS