Wedbush Reiterates Neutral Rating for Autodesk Inc. (ADSK)
Autodesk Inc. (NASDAQ:ADSK)‘s stock had its “neutral” rating reiterated by analysts at Wedbush in a research report issued on Wednesday. They presently have a $76.00 target price on the software company’s stock, up from their prior target price of $70.00. Wedbush’s target price suggests a potential upside of 1.01% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Autodesk from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, October 4th. Evercore ISI assumed coverage on shares of Autodesk in a research note on Wednesday, September 14th. They set a “buy” rating and a $80.00 price objective for the company. Canaccord Genuity upped their price objective on shares of Autodesk from $60.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, August 26th. Citigroup Inc. set a $65.00 price objective on shares of Autodesk and gave the company a “hold” rating in a research note on Sunday, August 28th. Finally, Cowen and Company upped their price objective on shares of Autodesk from $68.00 to $71.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.42.
Shares of Autodesk (NASDAQ:ADSK) opened at 75.26 on Wednesday. The firm’s market cap is $16.70 billion. Autodesk has a one year low of $41.60 and a one year high of $78.58. The company has a 50-day moving average of $72.33 and a 200 day moving average of $64.22.
Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 29th. The software company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.06. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The firm earned $489.60 million during the quarter. During the same period in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. On average, equities research analysts expect that Autodesk will post ($0.60) EPS for the current fiscal year.
In other Autodesk news, SVP Andrew Anagnost sold 4,525 shares of the stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $70.00, for a total value of $316,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 1,500 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $68.91, for a total value of $103,365.00. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Autodesk during the third quarter valued at $101,000. Howard Hughes Medical Institute bought a new stake in shares of Autodesk during the second quarter valued at $113,000. Bessemer Group Inc. raised its stake in shares of Autodesk by 1,177.2% in the second quarter. Bessemer Group Inc. now owns 2,350 shares of the software company’s stock valued at $127,000 after buying an additional 2,166 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Autodesk by 27.9% in the second quarter. Meeder Asset Management Inc. now owns 2,396 shares of the software company’s stock valued at $130,000 after buying an additional 522 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Autodesk by 71.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,761 shares of the software company’s stock valued at $149,000 after buying an additional 1,154 shares in the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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