Autodesk Given New $62.00 Price Target at Robert W. Baird (ADSK)
Equities researchers at Robert W. Baird boosted their price target on shares of Autodesk (NASDAQ:ADSK) from $60.00 to $62.00 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 10.16% from the stock’s previous close.
Autodesk (NASDAQ:ADSK) traded down 6.43% during mid-day trading on Friday, hitting $52.66. The stock had a trading volume of 14,091,106 shares. Autodesk has a 1-year low of $35.05 and a 1-year high of $58.68. The stock’s 50-day moving average is $55.47 and its 200-day moving average is $52.18. The company has a market cap of $11.999 billion and a price-to-earnings ratio of 64.03. Autodesk also saw some unusual options trading activity on Thursday. Stock traders acquired 14,446 call options on the stock. This represents an increase of approximately 471% compared to the typical volume of 2,530 call options.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 14th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.29 by $0.06. The company had revenue of $637.10 million for the quarter, compared to the consensus estimate of $603.16 million. Analysts expect that Autodesk will post $1.18 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on ADSK. Analysts at Morgan Stanley reiterated a “neutral” rating on shares of Autodesk in a research note on Friday. They now have a $62.00 price target on the stock, up previously from $53.00. Separately, analysts at RBC Capital raised their price target on shares of Autodesk from $65.00 to $70.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Autodesk from $58.00 to $65.00 in a research note on Friday. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Autodesk currently has a consensus rating of “Hold” and an average price target of $61.79.
Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.
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