Autodesk, Inc. (NASDAQ:ADSK) PT Set at $115.00 by Evercore ISI
Autodesk, Inc. (NASDAQ:ADSK) has been assigned a $115.00 target price by stock analysts at Evercore ISI in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the software company’s stock. Evercore ISI’s price objective suggests a potential upside of 4.78% from the company’s current price.
A number of other research firms have also commented on ADSK. ValuEngine upgraded Autodesk from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Sanford C. Bernstein assumed coverage on Autodesk in a research note on Wednesday, May 24th. They set an “outperform” rating and a $137.00 price target on the stock. TheStreet lowered Autodesk from a “c-” rating to a “d” rating in a research note on Thursday, May 18th. Canaccord Genuity restated a “buy” rating and set a $120.00 price target (up from $105.00) on shares of Autodesk in a research note on Sunday, May 21st. Finally, William Blair restated an “outperform” rating on shares of Autodesk in a research note on Sunday, May 21st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Autodesk has a consensus rating of “Buy” and an average target price of $104.50.
Shares of Autodesk (NASDAQ:ADSK) traded down 0.15% on Wednesday, reaching $109.75. The company had a trading volume of 1,116,428 shares. The firm’s market capitalization is $24.19 billion. The company has a 50-day moving average price of $106.50 and a 200-day moving average price of $92.72. Autodesk has a 52-week low of $56.80 and a 52-week high of $114.68.
Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $485.70 million for the quarter, compared to analyst estimates of $470.27 million. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. Equities research analysts forecast that Autodesk will post ($0.57) EPS for the current fiscal year.
In other Autodesk news, VP Paul D. Underwood sold 6,490 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $111.93, for a total transaction of $726,425.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jan Becker sold 2,865 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $95.73, for a total value of $274,266.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 170,570 shares of company stock worth $17,865,037. Company insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. British Columbia Investment Management Corp increased its position in Autodesk by 11.8% in the first quarter. British Columbia Investment Management Corp now owns 112,143 shares of the software company’s stock valued at $9,697,000 after buying an additional 11,871 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Autodesk during the first quarter valued at approximately $656,000. Teachers Advisors LLC boosted its stake in shares of Autodesk by 131.2% in the fourth quarter. Teachers Advisors LLC now owns 621,633 shares of the software company’s stock valued at $46,007,000 after buying an additional 352,758 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Autodesk by 7.4% in the first quarter. Stifel Financial Corp now owns 121,523 shares of the software company’s stock valued at $10,512,000 after buying an additional 8,402 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Autodesk by 931.6% in the first quarter. Bank of Nova Scotia now owns 44,700 shares of the software company’s stock valued at $3,865,000 after buying an additional 40,367 shares during the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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