Autodesk (ADSK) Given Neutral Rating at Wedbush

Autodesk (NASDAQ:ADSK)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a note issued to investors on Friday. They presently have a $137.00 price objective on the software company’s stock. Wedbush’s price target suggests a potential upside of 3.20% from the company’s current price.

Several other analysts have also issued reports on ADSK. Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a report on Wednesday, May 16th. Deutsche Bank reiterated a “buy” rating and set a $150.00 target price on shares of Autodesk in a report on Monday, May 14th. Oppenheimer upped their price objective on Autodesk from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, March 7th. KeyCorp upped their price objective on Autodesk from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Wednesday, March 7th. Finally, Barclays upped their price objective on Autodesk from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 7th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $149.10.

ADSK opened at $132.75 on Friday. Autodesk has a 52-week low of $99.22 and a 52-week high of $141.26. The stock has a market cap of $30.44 billion, a P/E ratio of -82.97 and a beta of 1.72. The company has a debt-to-equity ratio of -6.20, a quick ratio of 0.88 and a current ratio of 0.88.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, May 24th. The software company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. Autodesk had a negative return on equity of 530.32% and a negative net margin of 24.39%. The business had revenue of $559.90 million for the quarter, compared to analyst estimates of $558.49 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Autodesk’s revenue was up 15.3% on a year-over-year basis.

In other news, Director Crawford W. Beveridge sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $133.11, for a total value of $199,665.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul D. Underwood sold 2,089 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $139.21, for a total value of $290,809.69. The disclosure for this sale can be found here. Insiders sold 48,475 shares of company stock worth $6,094,232 in the last ninety days. 0.14% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of ADSK. Suntrust Banks Inc. grew its position in Autodesk by 15.0% during the first quarter. Suntrust Banks Inc. now owns 16,208 shares of the software company’s stock worth $2,034,000 after buying an additional 2,111 shares in the last quarter. Amalgamated Bank grew its position in Autodesk by 8.7% during the first quarter. Amalgamated Bank now owns 29,750 shares of the software company’s stock worth $3,736,000 after buying an additional 2,381 shares in the last quarter. Summit Trail Advisors LLC grew its position in Autodesk by 16.7% during the first quarter. Summit Trail Advisors LLC now owns 14,507 shares of the software company’s stock worth $1,266,000 after buying an additional 2,075 shares in the last quarter. WINTON GROUP Ltd grew its position in Autodesk by 24.3% during the first quarter. WINTON GROUP Ltd now owns 197,015 shares of the software company’s stock worth $24,741,000 after buying an additional 38,543 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Autodesk by 11.0% during the first quarter. Xact Kapitalforvaltning AB now owns 32,614 shares of the software company’s stock worth $4,096,000 after buying an additional 3,220 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply