Barclays Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective increased by stock analysts at Barclays from $355.00 to $365.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software company’s stock. Barclays‘s price target would indicate a potential upside of 33.10% from the stock’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley increased their price target on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday. Oppenheimer increased their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 target price on shares of Autodesk in a report on Tuesday. Wells Fargo & Company raised their price target on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Autodesk from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.86.

Autodesk Price Performance

Shares of ADSK traded down $8.12 during mid-day trading on Friday, reaching $274.23. The company had a trading volume of 5,091,701 shares, compared to its average volume of 1,530,152. The company’s 50 day simple moving average is $297.11 and its 200 day simple moving average is $286.59. The company has a market capitalization of $58.96 billion, a price-to-earnings 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 debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. J.W. Cole Advisors Inc. grew its holdings in shares of Autodesk by 70.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock valued at $419,000 after purchasing an additional 631 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Autodesk during the third quarter valued at about $307,000. Financial Advocates Investment Management increased its holdings in shares of Autodesk by 3.4% in the third quarter. Financial Advocates Investment Management now owns 2,092 shares of the software company’s stock worth $576,000 after buying an additional 69 shares during the period. Goldstone Financial Group LLC purchased a new stake in Autodesk during the 3rd quarter valued at about $288,000. Finally, Catalyst Financial Partners LLC purchased a new stake in Autodesk during the 3rd quarter valued at $211,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Company Profile

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.