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

Mizuho upgraded shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an outperform rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $400.00 target price on the software company’s stock, up from their previous target price of $280.00.

Several other research analysts also recently commented on ADSK. UBS Group started coverage on shares of Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Morgan Stanley boosted their price target on Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Scotiabank started coverage on Autodesk in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $360.00 price objective on the stock. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.50.

Autodesk Price Performance

Autodesk stock opened at $309.93 on Tuesday. The firm has a market cap of $66.63 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 3.55 and a beta of 1.42. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock’s fifty day moving average price is $299.36 and its two-hundred day moving average price is $277.96. Autodesk has a one year low of $195.32 and a one year high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share 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 business posted $1.33 earnings per share. Autodesk’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect 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 stock in a transaction dated 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 in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. Golden State Wealth Management LLC bought a new position in shares of Autodesk during the 4th quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in Autodesk during the third quarter worth $27,000. Concord Wealth Partners acquired a new stake in Autodesk in the third quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the third quarter valued at $28,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Autodesk during the fourth quarter valued at about $37,000. Institutional investors 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.