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

Autodesk (NASDAQ:ADSK) had its target price lifted by stock analysts at Mizuho from $260.00 to $280.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the software company’s stock. Mizuho’s price target indicates a potential downside of 11.94% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. HSBC upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their target price for the company from $242.00 to $299.00 in a research note on Tuesday, September 3rd. Robert W. Baird lifted their target price on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Rosenblatt Securities lifted their target price on Autodesk from $295.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Bank of America lifted their price target on Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $315.38.

Autodesk Stock Down 0.4 %

NASDAQ:ADSK traded down $1.43 during mid-day trading on Wednesday, reaching $317.96. The stock had a trading volume of 2,519,923 shares, compared to its average volume of 1,448,773. The company has a market capitalization of $68.36 billion, a price-to-earnings ratio of 65.02, a price-to-earnings-growth ratio of 4.08 and a beta of 1.47. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The stock’s 50 day simple moving average is $288.49 and its two-hundred day simple moving average is $256.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. Equities analysts anticipate that Autodesk will post 5.73 EPS for the current year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares of the company’s stock, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Stephen W. Hope sold 286 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total transaction of $78,604.24. Following the transaction, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,280 shares of company stock worth $5,232,213. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jag Capital Management LLC acquired a new position in Autodesk during the 3rd quarter worth $13,861,000. Cetera Investment Advisers raised its position in shares of Autodesk by 163.4% during the first quarter. Cetera Investment Advisers now owns 61,574 shares of the software company’s stock valued at $16,035,000 after buying an additional 38,196 shares during the last quarter. Forsta AP Fonden raised its position in shares of Autodesk by 7.9% during the third quarter. Forsta AP Fonden now owns 51,600 shares of the software company’s stock valued at $14,215,000 after buying an additional 3,800 shares during the last quarter. Bank of Montreal Can raised its position in shares of Autodesk by 8.7% during the third quarter. Bank of Montreal Can now owns 913,516 shares of the software company’s stock valued at $248,385,000 after buying an additional 73,363 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Autodesk by 32.0% during the third quarter. QRG Capital Management Inc. now owns 13,437 shares of the software company’s stock valued at $3,702,000 after buying an additional 3,259 shares during the last quarter. Institutional investors and hedge funds 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.