Autodesk Stock Rating Reaffirmed by Canaccord Genuity (ADSK)
Autodesk (NASDAQ:ADSK)‘s stock had its “hold” rating reaffirmed by Canaccord Genuity in a research note issued on Friday, Stock Ratings Network reports. They currently have a $42.00 price objective on the stock, up from their previous price objective of $35.00. Canaccord Genuity’s target price would suggest a potential upside of 0.14% from the stock’s previous close.
Shares of Autodesk (NASDAQ:ADSK) traded down 0.14% during mid-day trading on Friday, hitting $41.88. The stock had a trading volume of 1,016,752 shares. Autodesk has a 52-week low of $30.20 and a 52-week high of $42.41. The stock’s 50-day moving average is $37.82 and its 200-day moving average is $37.38. The company has a market cap of $9.339 billion and a P/E ratio of 43.73. Autodesk also was the target of some unusual options trading activity on Wednesday. Stock traders bought 12,891 call options on the stock. This represents an increase of approximately 105% compared to the typical volume of 6,279 call options.
Autodesk (NASDAQ:ADSK) last released its earnings data on Thursday, August 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The company had revenue of $562.00 million for the quarter, compared to the consensus estimate of $560.73 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Autodesk will post $1.75 earnings per share for the current fiscal year.
In other Autodesk news, Director Crawford Beveridge unloaded 7,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $38.55, for a total transaction of $269,850.00. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on ADSK. Analysts at Jefferies Group reiterated a “positive” rating on shares of Autodesk (NASDAQ:ADSK) in a research note to investors on Friday. They now have a $48.00 price target on the stock, up previously from $42.00. Separately, analysts at UBS AG raised their price target on shares of Autodesk (NASDAQ:ADSK) from $35.00 to $42.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Autodesk (NASDAQ:ADSK) in a research note to investors on Monday, August 26th. They now have a $41.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.70.
Autodesk, Inc (NASDAQ:ADSK) is designs software and services company.
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