Barclays Trims Autodesk (NASDAQ:ADSK) Target Price to $216.00

Autodesk (NASDAQ:ADSK – Get Rating) had its price target lowered by equities researchers at Barclays from $230.00 to $216.00 in a note issued to investors on Friday, The Fly reports. Barclays‘s price target would suggest a potential upside of 12.72% from the stock’s previous close.

Several other analysts have also recently commented on ADSK. Citigroup decreased their price target on shares of Autodesk from $286.00 to $264.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. StockNews.com cut shares of Autodesk from a “buy” rating to a “hold” rating in a research note on Wednesday. KeyCorp decreased their price target on shares of Autodesk from $260.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho reduced their price objective on shares of Autodesk from $285.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, May 18th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $255.00 price objective on shares of Autodesk in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $264.45.

Shares of Autodesk stock opened at $191.63 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $41.73 billion, a price-to-earnings ratio of 85.93 and a beta of 1.44. Autodesk has a 1-year low of $173.90 and a 1-year high of $344.39. The firm’s 50-day moving average price is $198.81 and its two-hundred day moving average price is $235.31.

Autodesk (NASDAQ:ADSK – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The software company reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts predict that Autodesk will post 4.25 EPS for the current year.

In other Autodesk news, CFO Deborah Clifford sold 1,820 shares of Autodesk stock in a transaction on Monday, March 28th. The shares were sold at an average price of $212.30, for a total value of $386,386.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 1,626 shares of Autodesk 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. Over the last 90 days, insiders have sold 7,458 shares of company stock worth $1,545,628. 0.11% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of ADSK. Curi Wealth Management LLC bought a new position in shares of Autodesk in the 4th quarter valued at about $25,000. Gradient Investments LLC grew 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 valued at $27,000 after acquiring an additional 39 shares during the period. Investment Research & Advisory Group Inc. bought a new position in shares of Autodesk in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC bought a new position in shares of Autodesk in the 4th quarter valued at about $28,000. Finally, Equitec Proprietary Markets LLC bought a new position in shares of Autodesk in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors 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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