Autodesk’s (ADSK) Outperform Rating Reaffirmed at Macquarie

Autodesk (NASDAQ:ADSK)‘s stock had its “outperform” rating reiterated by equities researchers at Macquarie in a note issued to investors on Friday,Benzinga reports. They presently have a $360.00 price objective on the software company’s stock. Macquarie’s target price points to a potential upside of 32.24% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. BMO Capital Markets lifted their target price on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a research report on Wednesday, November 27th. Oppenheimer upped their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research report on Friday, November 29th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $332.59.

Autodesk Stock Down 3.6 %

Shares of ADSK stock traded down $10.12 on Friday, hitting $272.23. 785,864 shares of the stock were exchanged, compared to its average volume of 1,406,959. The business has a 50-day moving average of $297.11 and a 200 day moving average of $286.59. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62. The firm has a market capitalization of $58.53 billion, a P/E ratio of 54.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76.

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

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently modified their holdings of ADSK. J.W. Cole Advisors Inc. increased its stake in shares of Autodesk by 70.9% in the third quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock valued at $419,000 after buying an additional 631 shares during the period. Pinnacle Associates Ltd. acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $307,000. Financial Advocates Investment Management boosted its stake in shares of Autodesk by 3.4% in the 3rd quarter. Financial Advocates Investment Management now owns 2,092 shares of the software company’s stock valued at $576,000 after purchasing an additional 69 shares during the last quarter. Goldstone Financial Group LLC bought a new position in Autodesk during the third quarter worth $288,000. Finally, Catalyst Financial Partners LLC acquired a new position in Autodesk in the third quarter valued at $211,000. 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.