Autodesk (NASDAQ:ADSK) Price Target Lowered to $330.00 at Rosenblatt Securities

Autodesk (NASDAQ:ADSK) had its price objective reduced by equities research analysts at Rosenblatt Securities from $375.00 to $330.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 49.50% from the company’s current price.

ADSK has been the subject of several other reports. Loop Capital lowered their target price on Autodesk from $320.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Autodesk from a “hold” rating to a “buy” rating and lifted their price target for the company from $345.00 to $375.00 in a research note on Wednesday, November 26th. UBS Group reduced their target price on shares of Autodesk from $400.00 to $290.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of Autodesk in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $340.00 target price on shares of Autodesk in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $347.89.

Autodesk Stock Up 1.0%

ADSK stock opened at $220.73 on Tuesday. The business has a 50 day moving average price of $266.26 and a two-hundred day moving average price of $291.49. The company has a market cap of $46.79 billion, a price-to-earnings ratio of 42.58, a P/E/G ratio of 1.59 and a beta of 1.45. Autodesk has a twelve month low of $216.01 and a twelve month high of $329.09. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.86.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Tuesday, November 25th. The software company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.17. Autodesk had a net margin of 16.09% and a return on equity of 52.06%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the previous year, the company earned $2.17 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Analysts anticipate that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Autodesk

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bridgewater Advisors Inc. grew its position in Autodesk by 2.2% in the 2nd quarter. Bridgewater Advisors Inc. now owns 1,567 shares of the software company’s stock worth $474,000 after purchasing an additional 34 shares during the period. Clarity Wealth Advisors LLC grew its position in shares of Autodesk by 2.3% during the second quarter. Clarity Wealth Advisors LLC now owns 1,535 shares of the software company’s stock valued at $475,000 after purchasing an additional 35 shares in the last quarter. Patron Partners LLC boosted its holdings in shares of Autodesk by 0.8% in the 3rd quarter. Patron Partners LLC now owns 4,295 shares of the software company’s stock worth $1,364,000 after purchasing an additional 35 shares during the period. Fulton Bank N.A. boosted its stake in shares of Autodesk by 4.6% during the third quarter. Fulton Bank N.A. now owns 812 shares of the software company’s stock valued at $258,000 after purchasing an additional 36 shares during the period. Finally, Wedbush Securities Inc. increased its position in shares of Autodesk by 2.6% during the second quarter. Wedbush Securities Inc. now owns 1,484 shares of the software company’s stock worth $459,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.