Autodesk, Inc. (ADSK) Receives Average Recommendation of “Buy” from Analysts

Autodesk, Inc. (NASDAQ:ADSK) has received a consensus rating of “Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $163.74.

A number of research analysts have recently weighed in on ADSK shares. Canaccord Genuity raised their price target on Autodesk from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. Griffin Securities raised their price target on Autodesk from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, August 24th. ValuEngine upgraded Autodesk from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 21st. Evercore ISI restated a “buy” rating and issued a $175.00 price target on shares of Autodesk in a research report on Wednesday, September 19th. Finally, Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd.

In related news, Director Lorrie M. Norrington sold 5,001 shares of Autodesk stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total transaction of $783,906.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Anagnost sold 23,008 shares of Autodesk stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $152.03, for a total value of $3,497,906.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,009 shares of company stock valued at $4,431,583. 0.14% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of ADSK. Harvest Fund Management Co. Ltd acquired a new stake in Autodesk in the 3rd quarter worth about $104,000. Alpha Windward LLC acquired a new stake in Autodesk in the 2nd quarter worth about $102,000. Smithfield Trust Co. acquired a new stake in Autodesk in the 2nd quarter worth about $116,000. First Bank & Trust acquired a new stake in Autodesk in the 3rd quarter worth about $149,000. Finally, Bank of Stockton acquired a new stake in Autodesk in the 3rd quarter worth about $205,000. Hedge funds and other institutional investors own 95.60% of the company’s stock.

Shares of ADSK stock opened at $140.61 on Friday. Autodesk has a fifty-two week low of $101.55 and a fifty-two week high of $159.94. The firm has a market capitalization of $29.23 billion, a PE ratio of -87.88, a PEG ratio of 112.49 and a beta of 1.97.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 18.52%. The business had revenue of $612.00 million during the quarter, compared to analysts’ expectations of $600.36 million. During the same quarter last year, the business posted ($0.11) earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, sell-side analysts forecast that Autodesk will post 0.05 EPS for the current year.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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