Autodesk’s (ADSK) Buy Rating Reaffirmed at Rosenblatt Securities

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reissued by equities researchers at Rosenblatt Securities in a research note issued on Tuesday,Benzinga reports. They currently have a $325.00 target price on the software company’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 13.77% from the stock’s current price.

A number of other analysts also recently commented on the company. Oppenheimer raised their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” 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 objective on the stock. in a research note on Friday, November 29th. Wells Fargo & Company boosted their price target on Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group began coverage on Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Finally, Robert W. Baird increased their target price on shares of Autodesk from $330.00 to $345.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $334.45.

Autodesk Trading Up 0.7 %

NASDAQ:ADSK opened at $285.67 on Tuesday. The company has a market capitalization of $61.42 billion, a P/E ratio of 56.68, a P/E/G ratio of 2.94 and a beta of 1.43. The stock’s 50 day moving average price is $297.33 and its 200 day moving average price is $286.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. 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 EPS 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 firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm posted $1.33 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after acquiring an additional 119,034 shares during the last quarter. State Street Corp lifted its stake in Autodesk by 3.0% in the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC grew its stake in shares of 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 increased its holdings in shares of Autodesk by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock worth $1,391,145,000 after buying an additional 45,623 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Autodesk by 28.0% in the 4th 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 last quarter. 90.24% of the stock is 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.