Citigroup Lowers Autodesk (NASDAQ:ADSK) Price Target to $339.00

Autodesk (NASDAQ:ADSK) had its price objective decreased by Citigroup from $361.00 to $339.00 in a research report report published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the software company’s stock.

Other research analysts also recently issued reports about the stock. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $280.00 to $400.00 in a research note on Tuesday, January 28th. Bank of America lifted their price target on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Tuesday. Wells Fargo & Company lifted their target price 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, Hsbc Global Res downgraded shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $333.45.

Autodesk Trading Down 1.2 %

ADSK stock opened at $282.35 on Thursday. The company has a market capitalization of $60.71 billion, a PE ratio of 56.02, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company’s 50 day moving average price is $297.11 and its two-hundred day moving average price is $286.59. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate 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 net margin of 18.30% and a return on equity of 53.87%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Institutional Trading of Autodesk

Several large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its holdings in shares of Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after buying an additional 2,307,960 shares in the last quarter. Norges Bank bought a new stake in shares of Autodesk during the 4th quarter valued at $632,566,000. Starboard Value LP bought a new stake in shares of Autodesk during the 3rd quarter valued at $510,189,000. Farallon Capital Management LLC bought a new stake in shares of Autodesk during the 4th quarter valued at $544,381,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after buying an additional 670,699 shares in the last quarter. 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.