Evercore ISI Reiterates Outperform Rating for Autodesk, Inc. (ADSK)
Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “outperform” rating reissued by equities researchers at Evercore ISI in a report released on Thursday. They presently have a $115.00 target price on the software company’s stock. Evercore ISI’s price target would indicate a potential upside of 1.74% from the stock’s previous close.
Several other research analysts have also weighed in on ADSK. Cowen and Company reissued an “outperform” rating and set a $105.00 price target (up from $95.00) on shares of Autodesk in a research report on Wednesday, May 17th. Royal Bank of Canada raised Autodesk from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $95.00 to $125.00 in a research report on Friday, May 19th. Canaccord Genuity restated a “buy” rating and issued a $120.00 target price (up previously from $105.00) on shares of Autodesk in a research note on Sunday, May 21st. Robert W. Baird restated an “outperform” rating and issued a $110.00 target price on shares of Autodesk in a research note on Monday, May 22nd. Finally, Sanford C. Bernstein initiated coverage on Autodesk in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $137.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $103.94.
Autodesk (NASDAQ:ADSK) opened at 113.03 on Thursday. The stock has a 50 day moving average price of $94.44 and a 200 day moving average price of $84.26. The firm’s market capitalization is $24.86 billion. Autodesk has a 1-year low of $49.82 and a 1-year high of $114.68.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. The firm had revenue of $485.70 million for the quarter, compared to analyst estimates of $470.27 million. Autodesk had a negative return on equity of 13.74% and a negative net margin of 20.30%. Autodesk’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) earnings per share. Analysts predict that Autodesk will post ($0.57) EPS for the current year.
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In related news, CEO Andrew Anagnost sold 5,540 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $86.00, for a total transaction of $476,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Steven M. Blum sold 55,088 shares of the business’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $85.08, for a total value of $4,686,887.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,067 shares of company stock valued at $11,323,341. 6.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ADSK. Cleararc Capital Inc. boosted its position in Autodesk by 0.4% in the first quarter. Cleararc Capital Inc. now owns 4,796 shares of the software company’s stock valued at $415,000 after buying an additional 21 shares in the last quarter. Cypress Wealth Advisors LLC boosted its position in Autodesk by 0.5% in the fourth quarter. Cypress Wealth Advisors LLC now owns 4,627 shares of the software company’s stock valued at $342,000 after buying an additional 24 shares in the last quarter. Baird Financial Group Inc. boosted its position in Autodesk by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 2,838 shares of the software company’s stock valued at $210,000 after buying an additional 29 shares in the last quarter. Tyers Asset Management LLC boosted its position in Autodesk by 0.7% in the first quarter. Tyers Asset Management LLC now owns 4,464 shares of the software company’s stock valued at $386,000 after buying an additional 32 shares in the last quarter. Finally, Elkfork Partners LLC boosted its position in Autodesk by 0.7% in the first quarter. Elkfork Partners LLC now owns 6,138 shares of the software company’s stock valued at $531,000 after buying an additional 44 shares in the last quarter. 97.13% of the stock is owned by institutional investors and hedge funds.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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