Autodesk Price Target Raised to $70.00 at RBC Capital (ADSK)
Investment analysts at RBC Capital boosted their price target on shares of Autodesk (NASDAQ:ADSK) from $65.00 to $70.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective indicates a potential upside of 24.38% from the stock’s previous close.
Shares of Autodesk (NASDAQ:ADSK) traded up 0.64% on Friday, hitting $56.641. 1,232,471 shares of the company’s stock traded hands. 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 $12.907 billion and a P/E ratio of 64.03. Autodesk also saw unusually large options trading activity on Thursday. Investors acquired 14,446 call options on the company. This is an increase of 471% compared to the average daily 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 (EPS) for the quarter, beating the 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.
ADSK has been the subject of a number of other recent research reports. 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. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Autodesk from $66.00 to $73.00 in a research note on Friday. They now have an “overweight” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Autodesk from $60.00 to $66.00 in a research note on Friday. 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. The stock has an average rating of “Hold” and an average price target of $61.86.
Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.
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