Stifel Nicolaus Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its target price upped by stock analysts at Stifel Nicolaus from $340.00 to $360.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ target price points to a potential upside of 22.60% from the company’s current price.

A number of other equities research analysts have also recently issued reports on ADSK. Piper Sandler boosted their target price on shares of Autodesk from $257.00 to $311.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Morgan Stanley boosted their price objective on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America lifted their target price on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Finally, Mizuho increased their price target on shares of Autodesk from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $323.95.

Autodesk Stock Performance

Shares of ADSK opened at $293.63 on Wednesday. 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 current ratio of 0.65 and a quick ratio of 0.65. The stock’s fifty day moving average price is $298.71 and its two-hundred day moving average price is $266.17. The firm has a market cap of $63.13 billion, a PE ratio of 58.26, a PEG ratio of 3.62 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for 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 firm’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. On average, equities research analysts forecast that Autodesk will post 5.76 EPS for the current year.

Insider Activity at Autodesk

In other Autodesk news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction that occurred 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 directly owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,386 shares of company stock valued at $403,308. Corporate insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

Institutional investors have recently added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new position in shares of Autodesk in the third quarter worth approximately $27,000. Concord Wealth Partners bought a new stake in Autodesk in the 3rd quarter worth $28,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the third quarter valued at about $28,000. Stephens Consulting LLC bought a new position in shares of Autodesk during the second quarter valued at about $32,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Autodesk during the second quarter worth about $36,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.