Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Bank of America Analyst Says

Autodesk (NASDAQ:ADSK) had its price objective lifted by research analysts at Bank of America from $325.00 to $335.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software company’s stock. Bank of America‘s price objective suggests a potential upside of 7.59% from the company’s current price.

Several other research firms have also recently commented on ADSK. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BMO Capital Markets upped their target price on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $311.00 to $357.00 in a research report on Wednesday, January 8th. Stifel Nicolaus upped their price target on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Oppenheimer increased their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $333.77.

Autodesk Trading Up 1.5 %

Shares of ADSK opened at $311.36 on Tuesday. The stock’s 50-day moving average is $298.59 and its two-hundred day moving average is $280.45. The stock has a market cap of $66.94 billion, a PE ratio of 61.78, a P/E/G ratio of 3.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62.

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 net margin of 18.30% and a return on equity of 53.87%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently made changes to their positions in ADSK. Golden State Wealth Management LLC acquired a new stake in shares of Autodesk in the fourth quarter worth $25,000. Livelsberger Financial Advisory bought a new position in shares of Autodesk during the 3rd quarter worth about $27,000. Transcendent Capital Group LLC acquired a new position in shares of Autodesk during the third quarter valued at about $28,000. Tradewinds Capital Management LLC lifted its stake 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 buying an additional 50 shares during the period. Finally, Concord Wealth Partners acquired a new stake in Autodesk during the third quarter worth about $28,000. Institutional investors and hedge funds 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.