Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Autodesk (NASDAQ:ADSK) had its price objective lifted by stock analysts at BMO Capital Markets from $287.00 to $308.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the software company’s stock. BMO Capital Markets’ price objective points to a potential upside of 5.97% from the company’s current price.

Several other research analysts also recently issued reports on ADSK. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and upped their target price for the stock from $225.00 to $295.00 in a research note on Tuesday, September 3rd. Robert W. Baird upped their price objective on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and increased their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Mizuho set a $260.00 price target on Autodesk in a research note on Friday, October 18th. Finally, Stifel Nicolaus increased their price objective on Autodesk from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $315.38.

Autodesk Stock Performance

Shares of ADSK opened at $290.64 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market cap of $62.49 billion, a P/E ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. The business’s 50 day moving average price is $289.44 and its 200-day moving average price is $257.07. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. Equities research analysts anticipate that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 286 shares of Autodesk stock in a transaction on Monday, September 30th. The shares were sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at approximately $1,340,944.36. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the sale, the director now owns 31,349 shares of the company’s stock, valued at $8,323,159.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,936 shares of company stock valued at $549,333. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently made changes to their positions in the business. New Covenant Trust Company N.A. purchased a new stake in Autodesk during the first quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Autodesk during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Autodesk during the 3rd quarter valued at about $27,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk in the 3rd quarter valued at about $28,000. Finally, Concord Wealth Partners purchased a new position in Autodesk in the third quarter worth about $28,000. Institutional investors own 90.24% of the company’s stock.

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.