Autodesk, Inc. (NASDAQ:ADSK) has been assigned a $135.00 price target by equities researchers at Evercore ISI in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the software company’s stock. Evercore ISI’s price target would indicate a potential upside of 13.17% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on ADSK. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $138.00 target price (up previously from $137.00) on shares of Autodesk in a research note on Friday, August 11th. BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Robert W. Baird set a $125.00 target price on shares of Autodesk and gave the stock a “buy” rating in a research note on Sunday, October 1st. Cowen and Company reaffirmed a “buy” rating and set a $115.00 target price on shares of Autodesk in a research note on Friday, August 18th. Finally, Barclays PLC lifted their target price on shares of Autodesk from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $118.26.
Autodesk (ADSK) traded up 1.577% during trading on Wednesday, hitting $121.171. 954,941 shares of the stock traded hands. The stock’s market cap is $26.56 billion. Autodesk has a 52-week low of $67.15 and a 52-week high of $121.88. The stock has a 50 day moving average price of $114.95 and a 200-day moving average price of $105.89.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $501.80 million for the quarter, compared to analysts’ expectations of $493.98 million. During the same quarter in the previous year, the company posted $0.05 EPS. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. On average, analysts anticipate that Autodesk will post ($0.54) EPS for the current fiscal year.
In other Autodesk news, Director Crawford W. Beveridge sold 1,500 shares of Autodesk stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $112.82, for a total value of $169,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lorrie M. Norrington sold 25,000 shares of Autodesk stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $111.12, for a total value of $2,778,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,212 shares of company stock valued at $6,742,238. 6.10% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Sustainable Growth Advisers LP acquired a new position in Autodesk in the 2nd quarter valued at about $208,956,000. Renaissance Technologies LLC acquired a new position in Autodesk in the 2nd quarter valued at about $140,338,000. Neuberger Berman Group LLC grew its position in Autodesk by 979.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 978,964 shares of the software company’s stock valued at $98,699,000 after acquiring an additional 888,233 shares in the last quarter. Fred Alger Management Inc. grew its position in Autodesk by 52.3% in the 2nd quarter. Fred Alger Management Inc. now owns 2,414,257 shares of the software company’s stock valued at $243,405,000 after acquiring an additional 829,021 shares in the last quarter. Finally, BlackRock Inc. grew its position in Autodesk by 4.8% in the 2nd quarter. BlackRock Inc. now owns 15,996,693 shares of the software company’s stock valued at $1,612,787,000 after acquiring an additional 735,647 shares in the last quarter. 94.80% of the stock is owned by 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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