Piper Sandler Upgrades Autodesk (NASDAQ:ADSK) to Overweight

Autodesk (NASDAQ:ADSK) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage presently has a $357.00 target price on the software company’s stock, up from their previous target price of $311.00. Piper Sandler’s price target would indicate a potential upside of 20.46% from the stock’s previous close.

Several other analysts have also commented on the company. Macquarie started coverage on Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price target on the stock. KeyCorp upped their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. DA Davidson assumed coverage on shares of Autodesk in a research note on Friday, September 27th. They set a “neutral” rating and a $260.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price for the company. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average target price of $326.05.

Autodesk Trading Up 1.9 %

Autodesk stock opened at $296.37 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50-day simple moving average is $301.44 and its 200-day simple moving average is $273.53. The firm has a market capitalization of $63.72 billion, a PE ratio of 58.80, a PEG ratio of 3.62 and a beta of 1.42. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

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

Insider Buying and Selling at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction 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 sale, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in Autodesk in the third quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the 3rd quarter worth about $28,000. Concord Wealth Partners purchased a new position in shares of Autodesk during the 3rd quarter valued at about $28,000. Central Pacific Bank Trust Division purchased a new position in shares of Autodesk during the 4th quarter valued at about $37,000. Finally, Wolff Wiese Magana LLC boosted its stake in Autodesk by 3,625.0% in the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after buying an additional 145 shares in the last quarter. 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.