Several brokerages have updated their recommendations and price targets on shares of Autodesk (NASDAQ: ADSK) in the last few weeks:

  • 8/29/2018 – Autodesk was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/28/2018 – Autodesk was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Autodesk’s second-quarter fiscal 2019 results benefited from higher subscriptions revenues. Although the revenue growth was satisfactory, the ongoing business model is likely to hurt top-line growth in the near term. Moreover, increasing spending is expected to keep margins under pressure. Moreover, higher rate of new hires will increase spending. However, Autodesk is well positioned to capitalize on the rapid adoption of computer-aided designing and manufacturing in both its domestic and overseas markets. We believe that higher demand for the company’s cloud-based products, mobile products and design suites will drive top-line growth over the long term. Shares have outperformed the industry on a year-to-date basis.”
  • 8/24/2018 – Autodesk had its price target raised by analysts at JPMorgan Chase & Co. from $150.00 to $175.00. They now have an “overweight” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at KeyCorp from $150.00 to $168.00. They now have an “overweight” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Barclays PLC from $152.00 to $166.00. They now have an “overweight” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Credit Suisse Group AG from $150.00 to $160.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Robert W. Baird from $155.00 to $165.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at CIBC from $150.00 to $175.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Oppenheimer Holdings Inc. from $150.00 to $175.00. They now have an “outperform” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Wedbush from $137.00 to $145.00. They now have a “neutral” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Canaccord Genuity from $150.00 to $165.00. They now have a “buy” rating on the stock.
  • 8/24/2018 – Autodesk had its price target raised by analysts at Griffin Securities from $165.00 to $170.00. They now have a “buy” rating on the stock.
  • 8/22/2018 – Autodesk was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Autodesk faces significant product concentration risk as it derives a major portion of its revenues from a handful of products like AUTOCAD and AUTOCAD LT. Although it is making continuous efforts to diversify its revenues, future decline in demand for any of these products will affect the company’s growth adversely. Shares have underperformed the industry in the past year. However, Autodesk is well positioned to capitalize on the rapid adoption of computer-aided designing and manufacturing in both its domestic and overseas markets. Meanwhile, estimates have increased lately ahead of the company’s second quarter earnings release. The company has positive record of earnings surprises in recent quarters.”
  • 8/17/2018 – Autodesk had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $137.00 price target on the stock.
  • 8/8/2018 – Autodesk had its “neutral” rating reaffirmed by analysts at Guggenheim. They now have a $150.00 price target on the stock.
  • 7/25/2018 – Autodesk was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Autodesk faces significant product concentration risk as it derives a significant portion of its revenues from a handful of products like AUTOCAD and AUTOCAD LT. Although it is making continuous efforts to diversify its revenues, future decline in demand for any of these products will affect the company’s growth adversely. Additionally, the company’s uneven top-line growth in the recent past has made it over dependent on cost-saving programs to generate earnings growth. Shares underperformed the industry in the past year. However, Autodesk is well positioned to capitalize on the rapid adoption of computer-aided designing and manufacturing in both its domestic and overseas markets. The company is also benefiting from its investment in digital infrastructure like e-store and EBA programs.”
  • 7/24/2018 – Autodesk was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/6/2018 – Autodesk was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ ADSK traded down $0.08 during mid-day trading on Friday, hitting $153.86. 88,117 shares of the company traded hands, compared to its average volume of 2,139,634. Autodesk, Inc. has a 1 year low of $101.55 and a 1 year high of $159.94. The company has a market cap of $34.44 billion, a price-to-earnings ratio of -96.16, a P/E/G ratio of 107.22 and a beta of 1.69. The company has a quick ratio of 0.92, a current ratio of 0.83 and a debt-to-equity ratio of -6.57.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 23rd. The software company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The business had revenue of $612.00 million during the quarter, compared to the consensus estimate of $600.36 million. During the same period in the prior year, the business posted ($0.11) earnings per share. Autodesk’s revenue was up 21.9% compared to the same quarter last year. sell-side analysts expect that Autodesk, Inc. will post 0.06 EPS for the current fiscal year.

In other news, Director Karen Blasing sold 350 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $138.14, for a total transaction of $48,349.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Steven M. Blum sold 13,870 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $133.02, for a total value of $1,844,987.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,406 shares of company stock valued at $3,674,377. 0.14% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Autodesk by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 1,569,743 shares of the software company’s stock valued at $205,778,000 after buying an additional 32,082 shares during the period. Advisors Asset Management Inc. raised its position in Autodesk by 44.2% during the second quarter. Advisors Asset Management Inc. now owns 59,991 shares of the software company’s stock valued at $7,864,000 after buying an additional 18,384 shares during the period. Nomura Holdings Inc. raised its position in Autodesk by 101.0% during the second quarter. Nomura Holdings Inc. now owns 8,532 shares of the software company’s stock valued at $1,118,000 after buying an additional 830,900 shares during the period. Andra AP fonden acquired a new position in Autodesk during the second quarter valued at $5,230,000. Finally, Global X Management Co LLC raised its position in Autodesk by 100.7% during the second quarter. Global X Management Co LLC now owns 11,274 shares of the software company’s stock valued at $1,478,000 after buying an additional 5,657 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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