The share of the American software provider Ansys was able to recover significantly from its low in June. It is currently trading at around USD 285 (EUR 289). There is still 31% upside from its all-time high of $411. Can the stock close this gap further?
Good business figures thanks to broad positioning
In the report on the business figures for the second quarter, the management emphasized that thanks to the broad positioning, the company had come through the crises well. Ansys is also very confident for the rest of the financial year.
In the second quarter, sales increased by 6% to USD 473.9 million. With profit of USD 98.8 million, the rate of increase was 5%. Without the currency charges, these would have been significantly higher. Roughly the same business figures are expected for the third quarter. The good business development of 2021 has continued so far.
The current crises have not hit the company much so far. Simulation software does not suffer from crises that occur, the opposite is the case. Simulations enable engineers to develop solutions to problems. The Ansys tool 2022 R2 combines previous findings with artificial intelligence (AI) and is therefore in great demand.
Will the share succeed in a sustainable trend reversal?
Part of the price decline has already been made up for, but the gap up to USD 411 is still large. Analysts also have mixed opinions on the stock, with a median target price of $303.
From a technical point of view, it is currently mainly about reaching the 200-day line. Only a break would make the technology a little more resilient. Accordingly, restraint should still be exercised.
