Autodesk (NASDAQ:ADSK) Price Target Raised to $260.00

Autodesk (NASDAQ:ADSK – Get Rating) had its price target lifted by equities research analysts at Robert W. Baird from $255.00 to $260.00 in a report released on Friday, The Fly reports. Robert W. Baird’s target price suggests a potential upside of 35.68% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Royal Bank of Canada cut their target price on Autodesk from $295.00 to $255.00 in a research report on Monday. Griffin Securities cut their price target 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. JPMorgan Chase & Co. dropped their price objective on Autodesk from $355.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Citigroup decreased their target price on Autodesk from $264.00 to $258.00 in a research report on Friday. Finally, Rosenblatt Securities cut their price target on Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Buy” and an average price target of $264.70.

NASDAQ:ADSK opened at $191.63 on Friday. The stock has a fifty day moving average price of $198.81 and a 200 day moving average price of $235.31. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.68. Autodesk has a 12-month low of $173.90 and a 12-month high of $344.39. The firm has a market cap of $41.73 billion, a PE ratio of 85.93 and a beta of 1.44.

Autodesk (NASDAQ:ADSK – Get Rating) last released its earnings results on Thursday, May 26th. The software company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts forecast that Autodesk will post 4.25 EPS for the current year.

In other Autodesk news, CAO Stephen W. Hope sold 1,626 shares of the stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $345,199.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $801,312.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,458 shares of company stock valued at $1,545,628. Corporate insiders own 0.11% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Twin Focus Capital Partners LLC grew its stake in Autodesk by 4.2% in the 3rd quarter. Twin Focus Capital Partners LLC now owns 826 shares of the software company’s stock worth $236,000 after acquiring an additional 33 shares in the last quarter. Gradient Investments LLC raised its holdings in shares of Autodesk by 68.4% during the fourth quarter. Gradient Investments LLC now owns 96 shares of the software company’s stock worth $27,000 after purchasing an additional 39 shares during the last quarter. Calton & Associates Inc. boosted its stake in shares of Autodesk by 4.7% during 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 in the last quarter. CENTRAL TRUST Co grew its position in shares of Autodesk by 6.4% during the 4th quarter. CENTRAL TRUST Co now owns 713 shares of the software company’s stock valued at $200,000 after acquiring an additional 43 shares during the period. Finally, Green Alpha Advisors LLC increased its position in shares of Autodesk by 1.1% in the fourth quarter. Green Alpha Advisors LLC now owns 3,893 shares of the software company’s stock valued at $1,095,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 89.55% of the company’s stock.

Autodesk Company Profile (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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