Autodesk, Inc. (NASDAQ:ADSK) Receives $174.61 Average Target Price from Analysts

Shares of Autodesk, Inc. (NASDAQ:ADSK) have been given a consensus recommendation of “Hold” by the twenty-five research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $173.89.

ADSK has been the subject of a number of research reports. BidaskClub lowered Autodesk from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Wedbush lowered their target price on Autodesk from $166.00 to $164.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Citigroup initiated coverage on Autodesk in a research note on Monday, July 22nd. They issued a “buy” rating and a $210.00 target price for the company. Griffin Securities restated a “buy” rating and issued a $193.00 target price (up from $188.00) on shares of Autodesk in a research note on Friday, May 24th. Finally, Deutsche Bank lowered Autodesk from a “buy” rating to a “hold” rating and lowered their target price for the company from $180.00 to $165.00 in a research note on Thursday.

Shares of NASDAQ:ADSK traded up $1.20 during midday trading on Friday, reaching $144.12. The company’s stock had a trading volume of 180,838 shares, compared to its average volume of 1,853,678. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95. The company has a market capitalization of $33.34 billion, a P/E ratio of 1,310.27, a P/E/G ratio of 2.40 and a beta of 1.79. The business’s fifty day simple moving average is $163.10 and its 200-day simple moving average is $163.20.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02). Autodesk had a negative net margin of 0.82% and a negative return on equity of 26.61%. The business had revenue of $735.50 million during the quarter, compared to analyst estimates of $740.14 million. During the same quarter last year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. Equities analysts predict that Autodesk will post 1.66 earnings per share for the current year.

In other news, Director Crawford W. Beveridge sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $161.09, for a total transaction of $161,090.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $169.47, for a total value of $412,489.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,773 shares of company stock valued at $1,109,297. Corporate insiders own 0.12% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. First Manhattan Co. grew its position in shares of Autodesk by 221.2% during the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock worth $26,000 after buying an additional 115 shares during the period. Farmers National Bank acquired a new position in shares of Autodesk during the 1st quarter worth about $32,000. Thor Advisors LLC acquired a new position in shares of Autodesk during the 1st quarter worth about $38,000. Osborn Williams & Donohoe LLC acquired a new position in shares of Autodesk during the 1st quarter worth about $43,000. Finally, Next Capital Management LLC grew its position in shares of Autodesk by 62.8% during the 2nd quarter. Next Capital Management LLC now owns 280 shares of the software company’s stock worth $46,000 after buying an additional 108 shares during the period. Institutional investors own 93.21% of the company’s stock.

About Autodesk

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

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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