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

Autodesk (NASDAQ:ADSK) had its price target upped by Barclays from $355.00 to $365.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Other research analysts also recently issued reports about the stock. Oppenheimer upped their target price on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. UBS Group upped their target price on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $357.00 in a research note on Wednesday, January 8th. KeyCorp upped their target price on shares of Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.86.

Autodesk Price Performance

ADSK opened at $274.23 on Friday. The company has a market cap of $58.96 billion, a P/E ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a 50 day moving average of $296.63 and a two-hundred day moving average of $286.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

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

Institutional Trading of Autodesk

Several hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in Autodesk by 406.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank acquired a new position in Autodesk during the 4th quarter valued at about $632,566,000. Starboard Value LP acquired a new position in Autodesk during the 3rd quarter valued at about $510,189,000. Farallon Capital Management LLC acquired a new position in Autodesk during the 4th quarter valued at about $544,381,000. Finally, Janus Henderson Group PLC increased its stake in Autodesk by 43.7% during the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after buying an additional 670,699 shares during the period. 90.24% of the stock is currently owned by institutional investors.

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.