Morgan Stanley Raises Autodesk (NASDAQ:ADSK) Price Target to $385.00

Autodesk (NASDAQ:ADSK) had its target price upped by equities researchers at Morgan Stanley from $375.00 to $385.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the software company’s stock. Morgan Stanley’s price target points to a potential upside of 40.39% from the stock’s current price.

Several other analysts have also issued reports on the stock. Oppenheimer boosted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Macquarie started coverage on shares of Autodesk in a report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Autodesk from $330.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target 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. Finally, UBS Group initiated coverage on shares of Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price target on the stock. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus price target of $338.43.

Autodesk Stock Down 2.9 %

Shares of ADSK opened at $274.23 on Friday. The firm has a market cap of $58.96 billion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company’s 50-day moving average price is $296.63 and its 200 day moving average price 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.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in Autodesk in the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the third quarter valued at approximately $28,000. Investment Management Corp VA ADV purchased a new position in Autodesk in the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC increased its stake in Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new position in Autodesk in the fourth quarter valued at approximately $30,000. 90.24% of the stock is currently 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.