Piper Sandler Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its price objective boosted by analysts at Piper Sandler from $257.00 to $311.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software company’s stock. Piper Sandler’s price target would suggest a potential upside of 7.01% from the company’s previous close.

ADSK has been the subject of a number of other research reports. Berenberg Bank increased their price target on Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. Rosenblatt Securities raised their target price on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley lifted their target price on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America upped their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company raised their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Stock Down 8.6 %

ADSK stock opened at $290.64 on Wednesday. The firm has a market cap of $62.49 billion, a PE ratio of 59.44, a P/E/G ratio of 4.08 and a beta of 1.47. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $289.44 and a 200 day simple moving average of $257.07.

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 company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. Equities research analysts forecast that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,879 shares in the company, valued at $1,340,944.36. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last ninety days. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Autodesk

Several large investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. boosted its holdings in Autodesk by 7.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock valued at $1,766,000 after acquiring an additional 448 shares during the period. New Covenant Trust Company N.A. bought a new stake in Autodesk during the 1st quarter valued at approximately $25,000. Citizens Financial Group Inc. RI acquired a new stake in Autodesk in the 1st quarter valued at approximately $251,000. LRI Investments LLC bought a new position in Autodesk in the 1st quarter worth approximately $26,000. Finally, Swedbank AB acquired a new position in shares of Autodesk during the first quarter worth approximately $39,054,000. 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.