Autodesk, Inc. (NASDAQ:ADSK) Receives $292.85 Average Target Price from Analysts

Autodesk, Inc. (NASDAQ:ADSK – Get Rating) has received a consensus rating of “Buy” from the twenty-four research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $292.85.

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Autodesk from $330.00 to $275.00 and set a “buy” rating for the company in a report on Friday, February 25th. Piper Sandler lowered their price target on shares of Autodesk from $340.00 to $298.00 and set an “overweight” rating for the company in a report on Friday, February 25th. OTR Global downgraded shares of Autodesk to a “positive” rating in a report on Thursday, February 10th. Citigroup lowered their price target on shares of Autodesk from $305.00 to $286.00 and set a “buy” rating for the company in a report on Friday, February 25th. Finally, Stifel Europe lowered their price target on shares of Autodesk from $310.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 28th.

Shares of ADSK opened at $196.73 on Tuesday. Autodesk has a one year low of $186.29 and a one year high of $344.39. The company has a market cap of $42.75 billion, a P/E ratio of 88.22 and a beta of 1.45. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50 day simple moving average of $213.59 and a two-hundred day simple moving average of $257.44.

Autodesk (NASDAQ:ADSK – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The software company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.91 by $0.07. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, analysts expect that Autodesk will post 4.25 earnings per share for the current fiscal year.

In other Autodesk news, CFO Deborah Clifford sold 1,820 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $386,386.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 1,626 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The disclosure for this sale can be found here. Insiders have sold 7,458 shares of company stock worth $1,545,628 in the last ninety days. Insiders own 0.11% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Autodesk by 3.9% during the 4th quarter. State Street Corp now owns 8,786,922 shares of the software company’s stock worth $2,470,795,000 after purchasing an additional 333,863 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of Autodesk by 14.5% during the 3rd quarter. Polen Capital Management LLC now owns 6,897,362 shares of the software company’s stock worth $1,966,921,000 after purchasing an additional 875,015 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Autodesk by 18.3% during the 4th quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company’s stock worth $1,641,953,000 after purchasing an additional 902,168 shares in the last quarter. Norges Bank bought a new position in shares of Autodesk during the 4th quarter worth about $1,504,904,000. Finally, Pictet Asset Management SA boosted its position in shares of Autodesk by 4.8% during the 4th quarter. Pictet Asset Management SA now owns 4,112,980 shares of the software company’s stock worth $1,156,529,000 after purchasing an additional 186,973 shares in the last quarter. 88.07% of the stock is currently owned by institutional investors.

About Autodesk (Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.

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