Macquarie Reiterates Outperform Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “outperform” rating restated by stock analysts at Macquarie in a note issued to investors on Friday,Benzinga reports. They presently have a $360.00 price objective on the software company’s stock. Macquarie’s target price would indicate a potential upside of 31.28% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Scotiabank initiated coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price target for the company. Barclays boosted their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America boosted their price target on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Oppenheimer boosted their price target on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $338.43.

Autodesk Price Performance

Autodesk stock opened at $274.23 on Friday. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The stock’s 50 day moving average is $296.63 and its 200-day moving average is $287.13. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $58.96 billion, a price-to-earnings ratio of 54.41, a PEG ratio of 2.94 and a beta of 1.43.

Institutional Investors Weigh In On Autodesk

A number of large investors have recently modified their holdings of ADSK. Golden State Wealth Management LLC bought a new stake in shares of Autodesk during the 4th quarter valued at about $25,000. Transcendent Capital Group LLC purchased a new position in Autodesk during the 3rd quarter valued at about $28,000. Investment Management Corp VA ADV purchased a new position in Autodesk during the 4th quarter valued at about $29,000. Tradewinds Capital Management LLC lifted its position in Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. Finally, Mizuho Securities Co. Ltd. purchased a new position in Autodesk during the 4th quarter valued at about $30,000. Institutional investors own 90.24% of the company’s stock.

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.