Robert W. Baird Issues Pessimistic Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price target dropped by investment analysts at Robert W. Baird from $345.00 to $336.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 22.53% from the company’s current price.

ADSK has been the topic of a number of other reports. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. KeyCorp boosted their target price on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Oppenheimer boosted their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus boosted their target price on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Autodesk has an average rating of “Moderate Buy” and an average price target of $338.43.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $274.23 on Friday. 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 company has a market cap of $58.96 billion, a P/E ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. The firm’s fifty day moving average is $296.63 and its two-hundred day moving average is $287.13. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Hedge Funds Weigh In On Autodesk

Large investors have recently made changes to their positions in the stock. Jag Capital Management LLC purchased a new position in shares of Autodesk in the 3rd quarter valued at about $13,861,000. LMR Partners LLP purchased a new position in shares of Autodesk in the 3rd quarter valued at about $12,643,000. Starboard Value LP purchased a new position in shares of Autodesk in the 3rd quarter valued at about $510,189,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Autodesk by 196.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock valued at $2,394,000 after purchasing an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management grew its stake in Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after acquiring an additional 26,768 shares during the last quarter. Hedge funds and other 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.