ADSK - Autodesk's New Transaction Model May Pressurize Relationship With Resellers: Analyst Sees More Challenging Operating Environment | Benzinga
Mizuho analyst Matthew Broome reiterated a Neutral rating on Autodesk, Inc. (NASDAQ: ADSK), lowering the price target to $200 from $220.
The company unveiled plans to roll out a new transaction model for its channel partners, which typically address the mid-market.
The new model will require all "indirect" customers to transact directly with ADSK, although channel partners will still provide quotes and value-added integration services.
The plan was launched in Australia two weeks ago and is expected to be rolled out globally over the next two years, the analyst notes.
The transition also results in an accounting change that has the effect of ...