Autodesk (NASDAQ:ADSK) Price Target Raised to $345.00

Autodesk (NASDAQ:ADSK) had its target price boosted by Robert W. Baird from $330.00 to $345.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the software company’s stock.

ADSK has been the subject of several other research reports. Barclays upped their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Wells Fargo & Company increased their price objective on 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 Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Autodesk Stock Performance

ADSK opened at $285.00 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm has a market cap of $61.28 billion, a PE ratio of 56.55, a P/E/G ratio of 3.08 and a beta of 1.43. The business has a fifty day simple moving average of $298.25 and a 200-day simple moving average of $285.27. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $1.33 EPS. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts predict that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Trading of Autodesk

Several large investors have recently made changes to their positions in ADSK. Vanguard Group Inc. raised its stake in shares of Autodesk by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock valued at $6,025,331,000 after acquiring an additional 119,034 shares in the last quarter. State Street Corp grew its holdings in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC raised its position in shares of Autodesk by 0.8% in the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after purchasing an additional 46,069 shares during the period. Geode Capital Management LLC lifted its stake in shares of Autodesk by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after buying an additional 45,623 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after buying an additional 667,763 shares during the period. 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.