Autodesk, Inc. (NASDAQ:ADSK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Autodesk, Inc. (NASDAQ:ADSK) have received a consensus rating of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $334.45.

Several brokerages recently weighed in on ADSK. Stifel Nicolaus raised their target price on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Bank of America raised their target price on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Oppenheimer raised their target price on Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays increased their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their price target for the company from $311.00 to $357.00 in a research report on Wednesday, January 8th.

Autodesk Trading Up 0.1 %

Shares of ADSK stock opened at $285.26 on Tuesday. The stock has a 50-day simple moving average of $297.86 and a 200 day simple moving average of $286.32. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The stock has a market capitalization of $61.33 billion, a P/E ratio of 56.60, a P/E/G ratio of 3.00 and a beta of 1.43. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in ADSK. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk during the 4th quarter worth about $25,000. Concord Wealth Partners acquired a new stake in Autodesk in the 3rd quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Autodesk in the 3rd quarter valued at approximately $28,000. Investment Management Corp VA ADV acquired a new stake in Autodesk in the 4th quarter valued at approximately $29,000. Finally, Tradewinds Capital Management LLC grew its holdings in Autodesk by 100.0% in 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 last quarter. 90.24% of the stock is owned by hedge funds and other 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.