Report
Andrew Lange
EUR 100.00 For Business Accounts Only

Ansys' portfolio is hard to replicate, and switching costs are high.

Ansys’ fourth-quarter results outperformed expectations on the top line, which was boosted by a better-than-expected perpetual license mix. By geography, North America, China, Taiwan, and the U.K. experienced double-digit year-over-year revenue growth. After accounting for the strong quarter and rolling our model forward, we raise Ansys’ fair value estimate to $97 per share from $91 per share and maintain our narrow economic moat rating. With the stock price soaring to unjustifiable levels, in o...
Underlying
ANSYS Inc.

ANSYS develops and markets engineering simulation software and services used by engineers, designers, researchers and students across a spectrum of industries and academia, including aerospace and defense, automotive, electronics, semiconductors, energy, materials and chemical processing, turbomachinery, consumer products, healthcare, and sports. The company focuses on the development of solutions that enable users to analyze designs directly on the desktop, providing a platform for product development, from design concept to final-stage testing and validation. The company's product portfolio include ANSYS Workbench?, a framework upon which the company's suite of engineering simulation technologies is built.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Lange

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