Mizuho Upgrades Autodesk (NASDAQ:ADSK) to Outperform

Autodesk (NASDAQ:ADSK) was upgraded by equities research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has a $400.00 price objective on the software company’s stock, up from their previous price objective of $280.00. Mizuho’s price objective suggests a potential upside of 31.51% from the company’s current price.

A number of other research firms have also recently issued reports on ADSK. Rosenblatt Securities lifted their target price on shares of Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Robert W. Baird upped their price objective on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Stifel Nicolaus upped their price target on Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays raised their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $331.50.

Autodesk Trading Down 1.9 %

Autodesk stock opened at $304.17 on Tuesday. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $65.40 billion, a P/E ratio of 60.35, a P/E/G ratio of 3.55 and a beta of 1.42. The company’s fifty day simple moving average is $299.46 and its 200-day simple moving average is $278.36.

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

Insider Activity at Autodesk

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the sale, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Hedge funds and other institutional investors have recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $27,000. Concord Wealth Partners bought a new position in shares of Autodesk during the 3rd quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Autodesk in the 3rd quarter valued at $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in Autodesk in the fourth quarter valued at $37,000. 90.24% of the stock is owned by 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.