Autodesk Inc. (NASDAQ:ADSK) Receives $67.26 Consensus Price Target from Brokerages
Shares of Autodesk Inc. (NASDAQ:ADSK) have earned a consensus rating of “Hold” from the twenty-two research firms that are currently covering the firm. Four research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $67.26.
ADSK has been the topic of several recent analyst reports. Evercore ISI initiated coverage on shares of Autodesk in a research note on Wednesday, September 14th. They set a “buy” rating and a $80.00 price objective on the stock. Wedbush initiated coverage on shares of Autodesk in a research note on Friday, September 9th. They set a “neutral” rating and a $60.00 price objective on the stock. Robert W. Baird upped their price objective on shares of Autodesk from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. Mitsubishi UFJ Financial Group downgraded shares of Autodesk from an “equal weight” rating to an “underweight” rating and set a $50.00 price objective on the stock. in a research note on Monday, August 29th. Finally, Royal Bank Of Canada upped their price objective on shares of Autodesk from $60.00 to $64.00 and gave the company a “sector perform” rating in a research note on Friday, August 19th.
In other news, SVP Andrew Anagnost sold 4,525 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $70.00, for a total value of $316,750.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Steven M. Blum sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $66.00, for a total transaction of $660,000.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services Inc increased its position in Autodesk by 1.4% in the first quarter. Commonwealth Equity Services Inc now owns 5,520 shares of the software company’s stock worth $322,000 after buying an additional 76 shares during the last quarter. Aperio Group LLC increased its position in Autodesk by 3.8% in the first quarter. Aperio Group LLC now owns 84,104 shares of the software company’s stock worth $4,904,000 after buying an additional 3,108 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in Autodesk during the first quarter worth about $287,000. Nisa Investment Advisors L.L.C. boosted its stake in Autodesk by 0.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 33,773 shares of the software company’s stock worth $1,969,000 after buying an additional 100 shares during the period. Finally, IFP Advisors Inc boosted its stake in Autodesk by 15.5% in the first quarter. IFP Advisors Inc now owns 1,715 shares of the software company’s stock worth $100,000 after buying an additional 230 shares during the period. Institutional investors own 97.07% of the company’s stock.
Autodesk (NASDAQ:ADSK) opened at 72.33 on Friday. Autodesk has a 12 month low of $41.60 and a 12 month high of $72.80. The stock’s market cap is $16.05 billion. The firm has a 50-day moving average of $67.34 and a 200 day moving average of $60.19.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.18. The business had revenue of $550.70 million for the quarter, compared to the consensus estimate of $511.49 million. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Analysts anticipate that Autodesk will post ($0.60) EPS for the current year.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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