Autodesk Receives Neutral Rating from Morgan Stanley (ADSK)
Autodesk (NASDAQ:ADSK)‘s stock had its “neutral” rating restated by investment analysts at Morgan Stanley in a note issued to investors on Friday. They currently have a $62.00 price target on the stock, up from their previous price target of $53.00. Morgan Stanley’s price objective indicates a potential upside of 10.16% from the company’s current price.
The analysts wrote, “ADSK beat revenue and EPS estimates ($637mn vs. our/cons est. of $603/$604mn, and $0.35 vs. our/cons est. $0.27/$0.29) with license upside. Deferred revenue was stronger than expected and total subs ended the quarter at 2mn. ADSK increased FY15 guidance, raising revenue growth from 4-6% to 7-9%, billings growth from 7-9% to 10-12%, and net sub adds from 150-200K to 200-250K.”
Shares of Autodesk (NASDAQ:ADSK) traded down 5.56% during mid-day trading on Friday, hitting $53.15. The stock had a trading volume of 5,958,363 shares. Autodesk has a 1-year low of $35.05 and a 1-year high of $58.68. The stock has a 50-day moving average of $55.47 and a 200-day moving average of $52.18. The company has a market cap of $12.111 billion and a price-to-earnings ratio of 64.03. Autodesk also was the recipient of some unusual options trading activity on Thursday. Traders bought 14,446 call options on the stock. This represents an increase of approximately 471% compared to the average daily volume of 2,530 call options.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data 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. On average, analysts predict that Autodesk will post $1.18 earnings per share for the current fiscal year.
ADSK has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.64.
Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.
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