Piper Sandler Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its target price increased by Piper Sandler from $257.00 to $311.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the software company’s stock.

ADSK has been the topic of several other reports. KeyCorp increased their price objective on shares of Autodesk from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Bank of America lifted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 30th. The Goldman Sachs Group raised Autodesk from a “sell” rating to a “neutral” rating and increased their target price for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Scotiabank started coverage on Autodesk in a research report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price target for the company. Finally, Oppenheimer raised their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $315.38.

Autodesk Price Performance

Shares of NASDAQ:ADSK opened at $290.64 on Wednesday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The stock has a market capitalization of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The company has a 50-day simple moving average of $289.02 and a 200-day simple moving average of $256.83. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.64 and a current ratio of 0.64.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Autodesk will post 5.73 EPS for the current year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total transaction of $167,783.00. Following the transaction, the director now directly owns 30,249 shares in the company, valued at $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Steven M. Blum sold 17,344 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the completion of the sale, the chief operating officer now directly owns 17,099 shares of the company’s stock, valued at $4,616,730. The trade was a 50.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,280 shares of company stock worth $5,232,213. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Marshall Financial Group LLC raised its position in shares of Autodesk by 0.8% during the 3rd quarter. Marshall Financial Group LLC now owns 4,491 shares of the software company’s stock valued at $1,237,000 after acquiring an additional 35 shares in the last quarter. Avitas Wealth Management LLC lifted its position in shares of Autodesk by 0.8% in the 3rd quarter. Avitas Wealth Management LLC now owns 5,577 shares of the software company’s stock worth $1,536,000 after buying an additional 42 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Autodesk by 1.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 3,875 shares of the software company’s stock valued at $959,000 after buying an additional 44 shares during the period. Meeder Asset Management Inc. grew its position in shares of Autodesk by 28.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 196 shares of the software company’s stock valued at $54,000 after buying an additional 44 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Autodesk by 5.1% during the second quarter. Johnson Investment Counsel Inc. now owns 920 shares of the software company’s stock worth $228,000 after acquiring an additional 45 shares during the period. Institutional investors own 90.24% of the company’s stock.

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.