Autodesk Stock Rating Upgraded by Bank of America Corp. (ADSK)
Autodesk (NASDAQ:ADSK) was upgraded by Bank of America Corp. to a “neutral” rating in a research note issued on Thursday, Analyst Ratings Network.com reports.
Shares of Autodesk (NASDAQ:ADSK) traded down 3.01% on Thursday, hitting $41.27. 4,057,380 shares of the company’s stock traded hands. Autodesk has a 1-year low of $30.20 and a 1-year high of $42.82. The stock’s 50-day moving average is $38.40 and its 200-day moving average is $37.39. The company has a market cap of $9.203 billion and a price-to-earnings ratio of 44.37. Autodesk also was the target of some unusual options trading activity on Tuesday. Investors acquired 19,429 call options on the company. This represents an increase of 162% compared to the typical daily volume of 7,423 call options.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.45 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.48 earnings per share. Autodesk’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Autodesk will post $1.75 earnings per share for the current fiscal year.
ADSK has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of Autodesk (NASDAQ:ADSK) from $41.00 to $43.00 in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Autodesk (NASDAQ:ADSK) in a research note to investors on Friday, September 27th. They now have a $42.00 price target on the stock, up previously from $35.00. Finally, analysts at Jefferies Group reiterated a “positive” rating on shares of Autodesk (NASDAQ:ADSK) in a research note to investors on Friday, September 27th. They now have a $48.00 price target on the stock, up previously from $42.00. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $46.30.
Autodesk, Inc (NASDAQ:ADSK) is designs software and services company.
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