Autodesk (NASDAQ:ADSK) Price Target Raised to $345.00 at Robert W. Baird

Autodesk (NASDAQ:ADSK) had its price target increased by Robert W. Baird from $330.00 to $345.00 in a report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the software company’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays increased their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley increased their price target on shares of Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Stifel Nicolaus boosted their price objective on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup raised their target price on shares of Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Finally, Rosenblatt Securities boosted their price target on Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Stock Performance

Shares of ADSK opened at $299.06 on Wednesday. The stock has a market capitalization of $64.30 billion, a price-to-earnings ratio of 59.34, a PEG ratio of 3.12 and a beta of 1.43. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The firm has a fifty day simple moving average of $298.99 and a 200 day simple moving average of $284.82. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS 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 company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $1.33 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADSK. Golden State Wealth Management LLC acquired a new position in Autodesk in the fourth quarter valued at about $25,000. Investment Management Corp VA ADV acquired a new position in shares of Autodesk in the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk during the 3rd quarter worth approximately $28,000. Tradewinds Capital Management LLC boosted its position in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in Autodesk in the fourth quarter valued at approximately $30,000. 90.24% of the stock is owned by institutional investors and hedge funds.

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.