Autodesk (NASDAQ:ADSK) Upgraded by Mizuho to Outperform Rating

Autodesk (NASDAQ:ADSK) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,Finviz reports. The firm currently has a $400.00 price objective on the software company’s stock, up from their prior price objective of $280.00. Mizuho’s price target suggests a potential upside of 33.75% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup raised their price objective on shares of Autodesk from $358.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Robert W. Baird increased their price target on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Scotiabank began coverage on shares of Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus upped their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $331.50.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $299.07 on Tuesday. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $64.30 billion, a P/E ratio of 59.34, a PEG ratio of 3.55 and a beta of 1.42. The stock has a fifty day moving average price of $299.42 and a two-hundred day moving average price of $277.61.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping 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 firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $1.33 EPS. Autodesk’s revenue was up 11.0% on a year-over-year basis. Research analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the company’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 sale, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. The trade was a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. Jag Capital Management LLC bought a new stake in Autodesk in the 3rd quarter valued at $13,861,000. LMR Partners LLP acquired a new stake in shares of Autodesk in the 3rd quarter valued at about $12,643,000. Starboard Value LP acquired a new position in shares of Autodesk during the third quarter worth about $510,189,000. Erste Asset Management GmbH bought a new position in shares of Autodesk during the third quarter worth about $20,087,000. Finally, Brookstone Capital Management raised its position in Autodesk by 1,058.9% in the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock valued at $8,659,000 after buying an additional 26,768 shares during the last quarter. 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.