Autodesk (NASDAQ:ADSK) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Autodesk, Inc. (NASDAQ:ADSKGet Free Report) hit a new 52-week low on Tuesday after Rosenblatt Securities lowered their price target on the stock from $375.00 to $330.00. Rosenblatt Securities currently has a buy rating on the stock. Autodesk traded as low as $215.01 and last traded at $224.2810, with a volume of 309806 shares traded. The stock had previously closed at $218.64.

A number of other analysts have also recently commented on ADSK. KeyCorp restated an “overweight” rating on shares of Autodesk in a report on Tuesday, December 16th. HSBC cut their price objective on shares of Autodesk from $388.00 to $379.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Barclays decreased their target price on shares of Autodesk from $390.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday. Stifel Nicolaus dropped their target price on Autodesk from $375.00 to $285.00 and set a “buy” rating on the stock in a report on Monday. Finally, UBS Group cut their target price on Autodesk from $400.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $347.89.

Check Out Our Latest Stock Report on Autodesk

Key Stories Impacting Autodesk

Here are the key news stories impacting Autodesk this week:

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgewater Advisors Inc. grew its holdings in Autodesk by 2.2% during the 2nd quarter. Bridgewater Advisors Inc. now owns 1,567 shares of the software company’s stock valued at $474,000 after buying an additional 34 shares in the last quarter. Clarity Wealth Advisors LLC grew its stake in Autodesk by 2.3% during the second quarter. Clarity Wealth Advisors LLC now owns 1,535 shares of the software company’s stock valued at $475,000 after acquiring an additional 35 shares in the last quarter. Patron Partners LLC lifted its stake in Autodesk by 0.8% in the 3rd quarter. Patron Partners LLC now owns 4,295 shares of the software company’s stock worth $1,364,000 after purchasing an additional 35 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of Autodesk by 4.6% during the 3rd quarter. Fulton Bank N.A. now owns 812 shares of the software company’s stock valued at $258,000 after purchasing an additional 36 shares during the last quarter. Finally, Wedbush Securities Inc. grew its position in shares of Autodesk by 2.6% during the second quarter. Wedbush Securities Inc. now owns 1,484 shares of the software company’s stock valued at $459,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Autodesk Stock Up 2.4%

The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $47.46 billion, a P/E ratio of 43.36, a PEG ratio of 1.59 and a beta of 1.45. The company has a fifty day moving average price of $266.26 and a 200-day moving average price of $291.49.

Autodesk (NASDAQ:ADSKGet Free Report) last announced its quarterly earnings results on Tuesday, November 25th. The software company reported $2.67 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.17. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. Autodesk had a return on equity of 52.06% and a net margin of 16.09%.The firm’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.17 earnings per share. As a group, research analysts forecast that Autodesk, Inc. will post 5.76 EPS for the current fiscal year.

About Autodesk

(Get Free Report)

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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