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

Autodesk (NASDAQ:ADSK) had its price objective lifted by Morgan Stanley from $375.00 to $385.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the software company’s stock.

Other equities research analysts also recently issued research reports about the company. Hsbc Global Res downgraded Autodesk from a “strong-buy” rating to a “hold” rating 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 objective for the company. Bank of America increased their price objective on Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their target price on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company boosted 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. Eight equities research 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.86.

Autodesk Stock Performance

ADSK opened at $274.23 on Friday. The company has a market capitalization of $58.96 billion, a price-to-earnings ratio of 54.41, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The business has a 50 day moving average price of $296.63 and a two-hundred day moving average price of $286.83.

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

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Autodesk by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after buying an additional 119,034 shares during the last quarter. State Street Corp increased its position in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. FMR LLC increased its position in Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after acquiring an additional 45,623 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Autodesk by 28.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock valued at $902,597,000 after acquiring an additional 667,763 shares during the period. 90.24% of the stock is owned by institutional investors and hedge funds.

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.