Autodesk’s (ADSK) “Overweight” Rating Reaffirmed at Pacific Crest
Pacific Crest restated their overweight rating on shares of Autodesk Inc. (NASDAQ:ADSK) in a research note published on Wednesday morning. Pacific Crest currently has a $81.00 target price on the software company’s stock.
Several other analysts have also weighed in on ADSK. Citigroup Inc. set a $65.00 target price on Autodesk and gave the company a hold rating in a report on Sunday, August 28th. Wedbush upped their target price on Autodesk to $60.00 and gave the company a neutral rating in a report on Friday, August 26th. Cowen and Company upped their target price on Autodesk from $68.00 to $71.00 and gave the company an outperform rating in a report on Friday, August 26th. Robert W. Baird upped their target price on Autodesk from $65.00 to $75.00 and gave the company an outperform rating in a report on Friday, August 26th. Finally, Canaccord Genuity upped their target price on Autodesk from $60.00 to $65.00 and gave the company a hold rating in a report on Friday, August 26th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Autodesk currently has an average rating of Hold and a consensus price target of $68.42.
Shares of Autodesk (NASDAQ:ADSK) opened at 75.15 on Wednesday. The company’s 50 day moving average price is $72.18 and its 200-day moving average price is $63.91. Autodesk has a 12 month low of $41.60 and a 12 month high of $78.58. The firm’s market capitalization is $16.68 billion.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.18. The company had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. Autodesk’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities analysts predict that Autodesk will post ($0.60) earnings per share for the current fiscal year.
In other news, SVP Steven M. Blum sold 10,000 shares of Autodesk stock in a transaction on Friday, August 26th. The stock was sold at an average price of $66.00, for a total transaction of $660,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew Anagnost sold 4,525 shares of Autodesk stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $70.00, for a total value of $316,750.00. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Several institutional investors have recently modified their holdings of ADSK. FMR LLC boosted its position in shares of Autodesk by 23.8% in the second quarter. FMR LLC now owns 20,026,572 shares of the software company’s stock valued at $1,084,239,000 after buying an additional 3,844,505 shares during the period. Iridian Asset Management LLC CT bought a new position in shares of Autodesk during the second quarter worth about $132,576,000. First Eagle Investment Management LLC bought a new position in shares of Autodesk during the second quarter worth about $37,658,000. Loomis Sayles & Co. L P boosted its position in shares of Autodesk by 6.7% in the second quarter. Loomis Sayles & Co. L P now owns 8,603,758 shares of the software company’s stock worth $465,808,000 after buying an additional 541,494 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Autodesk by 2,280.7% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 393,808 shares of the software company’s stock worth $28,484,000 after buying an additional 377,266 shares during the last quarter. Institutional investors own 96.82% of the company’s stock.
WARNING: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally copied and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2016/11/24/autodesks-adsk-overweight-rating-reaffirmed-at-pacific-crest.html.
Autodesk Company Profile
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.
Receive News & Stock Ratings for Autodesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk Inc. and related stocks with our FREE daily email newsletter.