Autodesk, Inc. (ADSK) Receives Average Rating of “Buy” from Analysts
Autodesk, Inc. (NASDAQ:ADSK) has received a consensus recommendation of “Buy” from the twenty-six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $117.89.
Several equities research analysts have issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $120.00 price target (up from $105.00) on shares of Autodesk in a research note on Sunday, May 21st. Evercore ISI reiterated a “buy” rating and issued a $115.00 price target on shares of Autodesk in a research note on Friday, May 19th. BidaskClub lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG assumed coverage on shares of Autodesk in a research note on Wednesday, July 19th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, Cowen and Company reiterated a “buy” rating and issued a $115.00 price target on shares of Autodesk in a research note on Friday, August 18th.
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In related news, Director Carl Bass sold 27,201 shares of Autodesk stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $101.73, for a total transaction of $2,767,157.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Betsy Rafael sold 2,354 shares of Autodesk stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $106.24, for a total transaction of $250,088.96. The disclosure for this sale can be found here. Insiders have sold a total of 135,986 shares of company stock valued at $14,061,542 in the last ninety days. 6.10% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in ADSK. Parallel Advisors LLC boosted its holdings in shares of Autodesk by 4.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after buying an additional 44 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Autodesk during the 2nd quarter worth about $150,000. IFP Advisors Inc boosted its holdings in shares of Autodesk by 9.3% during the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares during the period. Kanawha Capital Management LLC bought a new stake in shares of Autodesk during the 2nd quarter worth about $202,000. Finally, First Personal Financial Services boosted its holdings in shares of Autodesk by 896.0% during the 2nd quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares during the period. 94.26% of the stock is owned by institutional investors and hedge funds.
Autodesk (NASDAQ ADSK) traded up 0.34% during trading on Friday, hitting $114.44. 2,656,502 shares of the stock were exchanged. Autodesk has a 12-month low of $65.06 and a 12-month high of $119.73. The stock has a 50 day moving average price of $110.83 and a 200-day moving average price of $99.85. The firm’s market capitalization is $25.12 billion.
Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.05. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The business had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. During the same period last year, the business posted $0.05 earnings per share. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, equities research analysts anticipate that Autodesk will post ($0.55) earnings per share for the current fiscal year.
Autodesk Company Profile
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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