Piper Sandler Upgrades Autodesk (NASDAQ:ADSK) to Overweight

Autodesk (NASDAQ:ADSKGet Free Report) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $357.00 target price on the software company’s stock, up from their previous target price of $311.00. Piper Sandler’s price target indicates a potential upside of 22.76% from the stock’s previous close.

ADSK has been the topic of a number of other reports. Barclays lifted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Macquarie assumed coverage on Autodesk in a research report on Thursday, December 12th. They issued an “outperform” rating and a $380.00 target price on the stock. Robert W. Baird increased their price target on Autodesk from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. KeyCorp lifted their price objective on Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus increased their target price on Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $326.05.

View Our Latest Research Report on ADSK

Autodesk Trading Down 0.6 %

Shares of Autodesk stock opened at $290.82 on Wednesday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week 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 company has a market capitalization of $62.53 billion, a P/E ratio of 57.70, a P/E/G ratio of 3.62 and a beta of 1.42. The company has a fifty day moving average of $301.04 and a 200 day moving average of $273.21.

Autodesk (NASDAQ:ADSKGet Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts anticipate that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Friday, November 15th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

A number of hedge funds have recently added to or reduced their stakes in ADSK. Livelsberger Financial Advisory bought a new position in shares of Autodesk in the 3rd quarter worth $27,000. Concord Wealth Partners acquired a new position in Autodesk during the 3rd quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in Autodesk in the third quarter valued at about $28,000. Central Pacific Bank Trust Division acquired a new stake in Autodesk in the fourth quarter worth about $37,000. Finally, Wolff Wiese Magana LLC grew its stake in shares of Autodesk by 3,625.0% during the third quarter. Wolff Wiese Magana LLC now owns 149 shares of the software company’s stock worth $41,000 after acquiring an additional 145 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

Autodesk Company Profile

(Get Free Report)

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.

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