Barclays Cuts Autodesk (NASDAQ:ADSK) Price Target to $230.00

Autodesk (NASDAQ:ADSKGet Rating) had its price target dropped by equities researchers at Barclays from $275.00 to $230.00 in a research note issued on Tuesday, The Fly reports. Barclays‘s price objective would suggest a potential upside of 19.43% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus dropped their price target on shares of Autodesk from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Rosenblatt Securities lowered their price objective on shares of Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Piper Sandler lowered their price objective on shares of Autodesk from $340.00 to $298.00 and set an “overweight” rating on the stock in a research note on Friday, February 25th. TheStreet cut shares of Autodesk from a “b-” rating to a “c+” rating in a report on Tuesday, March 8th. Finally, Argus reduced their target price on shares of Autodesk from $360.00 to $290.00 in a report on Monday, February 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $286.35.

Shares of NASDAQ ADSK opened at $192.58 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.68. The firm’s 50-day moving average price is $200.76 and its two-hundred day moving average price is $241.45. Autodesk has a 52-week low of $175.41 and a 52-week high of $344.39. The stock has a market capitalization of $41.94 billion, a P/E ratio of 86.36 and a beta of 1.44.

Autodesk (NASDAQ:ADSKGet Rating) last announced its quarterly earnings results 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 company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $0.80 earnings per share. Autodesk’s revenue was up 16.6% compared to the same quarter last year. As a group, equities research analysts expect that Autodesk will post 4.25 earnings per share for the current year.

In related news, 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 value of $345,199.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Deborah Clifford sold 3,953 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $202.71, for a total transaction of $801,312.63. The disclosure for this sale can be found here. Insiders have sold a total of 7,458 shares of company stock valued at $1,545,628 in the last three months. Company insiders own 0.11% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. Twin Focus Capital Partners LLC boosted its stake in Autodesk by 4.2% during the 3rd quarter. Twin Focus Capital Partners LLC now owns 826 shares of the software company’s stock valued at $236,000 after purchasing an additional 33 shares during the period. Essex Financial Services Inc. lifted its position in shares of Autodesk by 2.9% in the 3rd quarter. Essex Financial Services Inc. now owns 1,269 shares of the software company’s stock worth $362,000 after acquiring an additional 36 shares during the period. CX Institutional lifted its position in shares of Autodesk by 8.8% in the 3rd quarter. CX Institutional now owns 468 shares of the software company’s stock worth $133,000 after acquiring an additional 38 shares during the period. Gradient Investments LLC lifted its position in shares of Autodesk by 68.4% in the 4th quarter. Gradient Investments LLC now owns 96 shares of the software company’s stock worth $27,000 after acquiring an additional 39 shares during the period. Finally, Calton & Associates Inc. lifted its position in shares of Autodesk by 4.7% in the 4th quarter. Calton & Associates Inc. now owns 897 shares of the software company’s stock worth $252,000 after acquiring an additional 40 shares during the period. Institutional investors own 89.55% of the company’s stock.

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.

Further Reading

The Fly logo

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.