Scotiabank Has Lowered Expectations for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price target dropped by investment analysts at Scotiabank from $360.00 to $315.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the software company’s stock. Scotiabank’s price objective would suggest a potential upside of 21.97% from the company’s previous close.

Several other analysts have also recently commented on the stock. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup lowered 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, February 27th. HSBC cut Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average target price of $336.29.

Autodesk Stock Performance

NASDAQ ADSK traded up $3.83 during trading hours on Monday, hitting $258.26. 329,278 shares of the stock were exchanged, compared to its average volume of 1,576,678. The stock has a 50-day moving average of $288.74 and a 200 day moving average of $287.80. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a market cap of $55.01 billion, a price-to-earnings ratio of 51.25, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently bought and sold shares of the business. Siemens Fonds Invest GmbH lifted its position in shares of Autodesk by 6.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 6,683 shares of the software company’s stock worth $1,988,000 after purchasing an additional 389 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Autodesk in the 4th quarter worth approximately $368,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Autodesk during the fourth quarter valued at $148,299,000. Brucke Financial Inc. acquired a new stake in shares of Autodesk in the 4th quarter worth about $207,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Autodesk during the fourth quarter valued at approximately $2,121,000. 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.