Royal Bank Of Canada Boosts Autodesk, Inc. (ADSK) Price Target to $140.00
Autodesk, Inc. (NASDAQ:ADSK) had its price target upped by equities research analysts at Royal Bank Of Canada from $125.00 to $140.00 in a note issued to investors on Wednesday. The firm currently has an “outperform” rating on the software company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 9.62% from the stock’s current price.
A number of other research firms also recently weighed in on ADSK. Canaccord Genuity reissued a “buy” rating and set a $125.00 target price (up from $120.00) on shares of Autodesk in a research report on Friday, August 25th. Evercore ISI reissued a “buy” rating and set a $135.00 target price on shares of Autodesk in a research report on Wednesday, August 23rd. Berenberg Bank initiated coverage on shares of Autodesk in a research report on Wednesday, August 23rd. They set a “buy” rating and a $136.00 target price for the company. Cowen and Company reissued a “buy” rating and set a $115.00 target price on shares of Autodesk in a research report on Friday, August 18th. Finally, BidaskClub downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $125.75.
Shares of Autodesk (NASDAQ:ADSK) opened at $127.71 on Wednesday. Autodesk has a 52-week low of $68.06 and a 52-week high of $128.28. The company has a debt-to-equity ratio of 5.02, a current ratio of 1.22 and a quick ratio of 1.22.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The business had revenue of $501.80 million during the quarter, compared to the consensus estimate of $493.98 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. sell-side analysts expect that Autodesk will post -1.38 EPS for the current fiscal year.
In other news, insider Andrew Anagnost sold 24,004 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $112.73, for a total transaction of $2,705,970.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $125.00, for a total transaction of $2,447,125.00. The disclosure for this sale can be found here. Insiders sold a total of 79,789 shares of company stock worth $9,189,363 over the last quarter. Corporate insiders own 6.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of ADSK. Parallel Advisors LLC raised its position in shares of Autodesk by 4.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock valued at $121,000 after buying an additional 44 shares in the last quarter. Cable Hill Partners LLC raised its position in shares of Autodesk by 276.7% during the 3rd quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock valued at $145,000 after buying an additional 949 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Autodesk during the 2nd quarter valued at $150,000. IFP Advisors Inc raised its position in shares of Autodesk by 9.3% during the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock valued at $171,000 after buying an additional 145 shares in the last quarter. Finally, Kanawha Capital Management LLC purchased a new stake in shares of Autodesk during the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.
Autodesk Company Profile
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).
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.