Autodesk (ADSK) Receives Buy Rating from Evercore ISI

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Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reissued by research analysts at Evercore ISI in a research report issued to clients and investors on Wednesday, September 19th. They presently have a $175.00 price objective on the software company’s stock. Evercore ISI’s price target points to a potential upside of 26.65% from the company’s current price.

A number of other research analysts have also recently commented on ADSK. Oppenheimer increased their price target on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 28th. Deutsche Bank increased their price target on shares of Autodesk from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 25th. CIBC increased their price target on shares of Autodesk from $150.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Finally, Bank of America increased their price target on shares of Autodesk from $133.00 to $139.00 and gave the company a “neutral” rating in a research report on Friday, May 25th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $163.74.

ADSK traded up $7.29 on Wednesday, reaching $138.18. The company had a trading volume of 3,893,638 shares, compared to its average volume of 2,117,360. The company has a market capitalization of $34.13 billion, a P/E ratio of -86.36, a P/E/G ratio of 109.17 and a beta of 1.80. The company has a debt-to-equity ratio of -6.57, a current ratio of 0.83 and a quick ratio of 0.83. Autodesk has a 52-week low of $101.55 and a 52-week high of $159.94.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $612.00 million for the quarter, compared to the consensus estimate of $600.36 million. Autodesk had a negative net margin of 18.52% and a negative return on equity of 3,087.49%. Autodesk’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted ($0.11) earnings per share. On average, equities analysts anticipate that Autodesk will post 0.06 earnings per share for the current year.

In other news, CEO Andrew Anagnost sold 23,008 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $152.03, for a total value of $3,497,906.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $149.77, for a total transaction of $149,770.00. The disclosure for this sale can be found here. Insiders sold 29,009 shares of company stock worth $4,431,583 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Several institutional investors have recently modified their holdings of ADSK. Thrivent Financial for Lutherans grew its holdings in shares of Autodesk by 605.3% in the first quarter. Thrivent Financial for Lutherans now owns 62,556 shares of the software company’s stock worth $7,855,000 after purchasing an additional 53,687 shares during the last quarter. US Bancorp DE boosted its holdings in Autodesk by 3.7% in the first quarter. US Bancorp DE now owns 37,777 shares of the software company’s stock valued at $4,744,000 after acquiring an additional 1,358 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Autodesk by 13.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 39,635 shares of the software company’s stock valued at $4,978,000 after acquiring an additional 4,703 shares in the last quarter. Gabelli Funds LLC bought a new stake in Autodesk in the first quarter valued at $6,405,000. Finally, Gamco Investors INC. ET AL bought a new stake in Autodesk in the first quarter valued at $927,000. Hedge funds and other institutional investors own 96.00% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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