Stifel Nicolaus Issues Pessimistic Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price decreased by investment analysts at Stifel Nicolaus from $360.00 to $350.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target points to a potential upside of 27.63% from the stock’s previous close.

ADSK has been the subject of several other research reports. KeyCorp raised their price target on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America raised their price target on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their price target on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Citigroup reduced their price target on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating for the company in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.43.

Autodesk Stock Performance

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 52-week low of $195.32 and a 52-week high of $326.62. 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 business’s fifty day moving average is $296.63 and its 200-day moving average is $287.13.

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Autodesk in the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in shares of Autodesk in the third quarter valued at approximately $28,000. Investment Management Corp VA ADV bought a new stake in shares of Autodesk in the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC raised its position in shares of 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 period. Finally, Mizuho Securities Co. Ltd. bought a new stake in shares of Autodesk in the fourth quarter valued at approximately $30,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.