Autodesk, Inc. (ADSK) Stock Rating Reaffirmed by Wedbush

Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research note issued to investors on Tuesday. They currently have a $125.00 price objective on the software company’s stock. Wedbush’s price objective points to a potential upside of 17.75% from the stock’s current price.

A number of other brokerages have also recently issued reports on ADSK. ValuEngine raised Autodesk from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Pacific Crest reissued an “overweight” rating and set a $105.00 price objective on shares of Autodesk in a report on Monday, May 8th. Cowen and Company reissued an “outperform” rating and set a $105.00 price objective (up from $95.00) on shares of Autodesk in a report on Wednesday, May 17th. TheStreet cut Autodesk from a “c-” rating to a “d” rating in a report on Thursday, May 18th. Finally, Guggenheim reissued a “neutral” rating and set a $80.00 price objective on shares of Autodesk in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $103.94.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Shares of Autodesk (NASDAQ ADSK) opened at 106.16 on Tuesday. Autodesk has a 12-month low of $49.82 and a 12-month high of $114.68. The company has a 50 day moving average of $103.98 and a 200-day moving average of $88.32. The firm’s market cap is $23.40 billion.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.08. The company had revenue of $485.70 million during the quarter, compared to analysts’ expectations of $470.27 million. Autodesk had a negative return on equity of 36.65% and a negative net margin of 26.99%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned ($0.10) earnings per share. Equities research analysts forecast that Autodesk will post ($0.57) EPS for the current fiscal year.

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In other news, SVP Steven M. Blum sold 6,638 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $112.71, for a total transaction of $748,168.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 3,954 shares of the business’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $85.27, for a total value of $337,157.58. The disclosure for this sale can be found here. Insiders have sold a total of 88,891 shares of company stock valued at $9,088,583 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Autodesk by 13.9% in the first quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock valued at $2,617,565,000 after buying an additional 3,698,259 shares during the last quarter. Vanguard Group Inc. raised its position in Autodesk by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,951,299 shares of the software company’s stock valued at $1,725,188,000 after buying an additional 633,999 shares during the last quarter. BlackRock Inc. raised its position in Autodesk by 3,291.0% in the first quarter. BlackRock Inc. now owns 15,261,046 shares of the software company’s stock valued at $1,319,622,000 after buying an additional 14,810,994 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Autodesk by 2.8% in the first quarter. Loomis Sayles & Co. L P now owns 9,615,501 shares of the software company’s stock valued at $831,453,000 after buying an additional 262,238 shares during the last quarter. Finally, State Street Corp raised its position in Autodesk by 0.5% in the first quarter. State Street Corp now owns 7,978,179 shares of the software company’s stock valued at $689,876,000 after buying an additional 37,455 shares during the last quarter. Institutional investors own 97.53% of the company’s stock.

About Autodesk

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:ADSK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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