Oppenheimer upgraded shares of Autodesk (NASDAQ:ADSK) from a market perform rating to an outperform rating in a report issued on Thursday, AnalystRatings.com reports. They currently have $300.00 target price on the software company’s stock.
Other research analysts have also issued reports about the stock. Atlantic Securities lowered shares of Autodesk from an overweight rating to a neutral rating and set a $179.00 price objective on the stock. in a research note on Thursday, April 23rd. Goldman Sachs Group lifted their price objective on shares of Autodesk from $228.00 to $265.00 and gave the company a buy rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. Canaccord Genuity lifted their price objective on shares of Autodesk from $230.00 to $260.00 and gave the company a buy rating in a research note on Thursday, June 4th. Wells Fargo & Co upped their price target on shares of Autodesk from $240.00 to $250.00 and gave the company an overweight rating in a report on Thursday, June 4th. Finally, KeyCorp upped their price target on shares of Autodesk from $250.00 to $260.00 and gave the company an overweight rating in a report on Wednesday, June 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $222.08.
Shares of ADSK opened at $244.24 on Thursday. Autodesk has a 1-year low of $125.38 and a 1-year high of $251.39. The stock has a market cap of $53.54 billion, a PE ratio of 144.52, a price-to-earnings-growth ratio of 2.69 and a beta of 1.61. The firm has a fifty day moving average price of $226.90 and a 200 day moving average price of $192.27.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Wednesday, May 27th. The software company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Autodesk had a net margin of 8.91% and a negative return on equity of 230.16%. The firm had revenue of $866.00 million during the quarter, compared to analysts’ expectations of $867.96 million. During the same period in the previous year, the company earned $0.45 earnings per share. Autodesk’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts anticipate that Autodesk will post 2.29 earnings per share for the current fiscal year.
In related news, SVP Steven M. Blum sold 7,490 shares of Autodesk stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $237.67, for a total value of $1,780,148.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Steven M. Blum sold 6,884 shares of Autodesk stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $242.28, for a total transaction of $1,667,855.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,730 shares of company stock worth $12,807,378. Insiders own 0.14% of the company’s stock.
A number of large investors have recently modified their holdings of ADSK. Altshuler Shaham Ltd increased its stake in Autodesk by 458.6% during the 1st quarter. Altshuler Shaham Ltd now owns 162 shares of the software company’s stock valued at $26,000 after buying an additional 133 shares during the period. Golden State Wealth Management LLC acquired a new position in Autodesk during the 1st quarter valued at about $31,000. Nvwm LLC acquired a new position in Autodesk during the 1st quarter valued at about $31,000. Clean Yield Group increased its stake in Autodesk by 71.5% during the 1st quarter. Clean Yield Group now owns 223 shares of the software company’s stock valued at $35,000 after buying an additional 93 shares during the period. Finally, Americana Partners LLC acquired a new position in Autodesk during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 92.07% of the company’s stock.
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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