Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, UBS Group Analyst Says

Autodesk (NASDAQ:ADSK) had its price target hoisted by UBS Group from $350.00 to $370.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the software company’s stock.

A number of other research firms have also issued reports on ADSK. Citigroup reduced their target price on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a report on Tuesday. KeyCorp raised their price objective on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Friday. DA Davidson raised their price objective on shares of Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Price Performance

Autodesk stock opened at $274.23 on Friday. The firm has a market cap of $58.96 billion, a PE 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 quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $296.63 and its two-hundred day moving average is $286.83.

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

Institutional Trading of Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mount Yale Investment Advisors LLC boosted its holdings in shares of Autodesk by 1.9% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 1,864 shares of the software company’s stock valued at $551,000 after acquiring an additional 35 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Autodesk by 1.0% in the fourth quarter. Y.D. More Investments Ltd now owns 3,384 shares of the software company’s stock valued at $1,000,000 after acquiring an additional 35 shares in the last quarter. Grove Bank & Trust boosted its holdings in shares of Autodesk by 9.2% in the fourth quarter. Grove Bank & Trust now owns 440 shares of the software company’s stock valued at $130,000 after acquiring an additional 37 shares in the last quarter. Journey Strategic Wealth LLC boosted its holdings in shares of Autodesk by 4.6% in the fourth quarter. Journey Strategic Wealth LLC now owns 835 shares of the software company’s stock valued at $247,000 after acquiring an additional 37 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Autodesk by 11.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the software company’s stock valued at $106,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other 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.