Bank of America Boosts Autodesk (NASDAQ:ADSK) Price Target to $335.00

Autodesk (NASDAQ:ADSK) had its price target raised by equities researchers at Bank of America from $325.00 to $335.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software company’s stock. Bank of America‘s price objective indicates a potential upside of 7.59% from the stock’s current price.

ADSK has been the subject of a number of other reports. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Rosenblatt Securities increased their price objective on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Macquarie began coverage on shares of Autodesk in a research note on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective for the company. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Finally, Oppenheimer upped their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eight equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.77.

Autodesk Stock Up 1.5 %

Shares of ADSK opened at $311.36 on Tuesday. The stock has a 50 day moving average price of $298.59 and a 200 day moving average price of $280.45. 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 stock has a market capitalization of $66.94 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 3.67 and a beta of 1.43. Autodesk has a one year low of $195.32 and a one year 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, topping analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Equities research analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares of the company’s stock, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Autodesk

A number of institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in shares of Autodesk during the 4th quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in Autodesk in the third quarter valued at approximately $27,000. Concord Wealth Partners acquired a new position in Autodesk during the third quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk in the 3rd quarter valued at $28,000. Finally, Tradewinds Capital Management LLC grew its stake 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 valued at $30,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds 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.