Cowen and Company Increases Autodesk Price Target to $58.00 (ADSK)
Equities research analysts at Cowen and Company upped their target price on shares of Autodesk (NASDAQ:ADSK) from $52.00 to $58.00 in a research note issued to investors on Tuesday. Cowen and Company’s price target points to a potential upside of 1.52% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Autodesk from $60.00 to $65.00 in a research note on Friday, June 6th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Autodesk in a research note on Monday, May 19th. They now have a $54.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Autodesk to a “hold” rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Autodesk has an average rating of “Hold” and a consensus price target of $58.08.
In other Autodesk news, CFO Mark J. Hawkins sold 8,816 shares of the company’s stock on the open market in a transaction dated Thursday, June 26th. The stock was sold at an average price of $55.71, for a total value of $491,139.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Autodesk (NASDAQ:ADSK) traded up 1.33% on Tuesday, hitting $57.13. The stock had a trading volume of 2,329,946 shares. Autodesk has a 52-week low of $33.23 and a 52-week high of $58.68. The stock has a 50-day moving average of $53.50 and a 200-day moving average of $51.10. The company has a market cap of $13.018 billion and a P/E ratio of 64.14. Autodesk also was the recipient of a large increase in short interest during the month of June. As of June 13th, there was short interest totalling 3,599,030 shares, an increase of 33.2% from the May 30th total of 2,701,548 shares. Based on an average trading volume of 1,620,865 shares, the short-interest ratio is currently 2.2 days. Currently, 1.6% of the shares of the company are short sold.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.11. The company had revenue of $593.00 million for the quarter, compared to the consensus estimate of $568.58 million. On average, analysts predict that Autodesk will post $1.18 earnings per share for the current fiscal year.
Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.
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