DA Davidson Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price raised by DA Davidson from $275.00 to $285.00 in a research report sent to investors on Friday morning,Benzinga reports. DA Davidson currently has a neutral rating on the software company’s stock.

ADSK has been the topic of a number of other research reports. Mizuho upgraded Autodesk from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $280.00 to $400.00 in a report on Tuesday, January 28th. Wells Fargo & Company raised their price target on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. HSBC lowered 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. Scotiabank started coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target on the stock. Finally, Morgan Stanley raised their price target on Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Price Performance

Shares of ADSK opened at $274.23 on Friday. 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 has a 1 year low of $195.32 and a 1 year high of $326.62. The stock has a market cap of $58.96 billion, a P/E ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The stock’s 50-day moving average price is $296.63 and its two-hundred day moving average price is $286.83.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) 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 earned $1.33 earnings per share. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Autodesk will post 5.76 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Jag Capital Management LLC acquired a new position in shares of Autodesk during the 3rd quarter worth approximately $13,861,000. LMR Partners LLP bought a new position in shares of Autodesk during the 3rd quarter worth approximately $12,643,000. Starboard Value LP bought a new position in shares of Autodesk during the 3rd quarter worth approximately $510,189,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Autodesk by 196.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after acquiring an additional 5,365 shares during the period. Finally, Brookstone Capital Management boosted its stake in shares of Autodesk by 1,058.9% during the 4th quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after acquiring an additional 26,768 shares during the period. 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.