Autodesk (NASDAQ:ADSK) Price Target Cut to $350.00 by Analysts at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its price objective trimmed by Stifel Nicolaus from $360.00 to $350.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the software company’s stock.

Several other analysts have also recently weighed in on ADSK. UBS Group assumed coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. BMO Capital Markets upped their price target on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research note on Wednesday, November 27th. KeyCorp upped their price target on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, DA Davidson upped their price target on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.86.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $274.23 on Friday. The stock has a market capitalization of $58.96 billion, a P/E ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $296.63 and a two-hundred day moving average price of $286.83.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. Equities analysts predict that Autodesk will post 5.76 earnings per share for the current year.

Institutional Trading of Autodesk

Several large investors have recently bought and sold shares of ADSK. Golden State Wealth Management LLC acquired a new stake in Autodesk in the fourth quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new stake in shares of Autodesk during the third quarter valued at about $28,000. Investment Management Corp VA ADV acquired a new stake in shares of Autodesk during the fourth quarter valued at about $29,000. Tradewinds Capital Management LLC boosted its stake in shares of Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Autodesk during the fourth quarter valued at about $30,000. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.