Oppenheimer Lowers Autodesk (NASDAQ:ADSK) Price Target to $275.00

Autodesk (NASDAQ:ADSKGet Free Report) had its target price lowered by analysts at Oppenheimer from $315.00 to $275.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the software company’s stock. Oppenheimer’s target price indicates a potential upside of 25.02% from the company’s current price.

Several other analysts have also issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $320.00 price target on shares of Autodesk in a report on Monday, April 1st. StockNews.com downgraded shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Barclays raised their price objective on shares of Autodesk from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Citigroup upped their target price on shares of Autodesk from $276.00 to $307.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Piper Sandler Companies raised their price target on Autodesk from $234.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $271.61.

Check Out Our Latest Analysis on ADSK

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $219.96 on Thursday. The firm has a market cap of $47.40 billion, a P/E ratio of 52.25, a PEG ratio of 3.03 and a beta of 1.45. The company has a 50 day moving average of $233.25 and a 200 day moving average of $237.08. Autodesk has a twelve month low of $192.01 and a twelve month high of $279.53. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSKGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The software company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.14. Autodesk had a net margin of 16.48% and a return on equity of 75.01%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that Autodesk will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Autodesk news, CEO Andrew Anagnost sold 21,053 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now owns 105,213 shares in the company, valued at $27,354,327.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Autodesk news, CAO Stephen W. Hope sold 1,757 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $260.47, for a total transaction of $457,645.79. Following the transaction, the chief accounting officer now owns 3,450 shares of the company’s stock, valued at approximately $898,621.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Anagnost sold 21,053 shares of Autodesk stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $259.99, for a total transaction of $5,473,569.47. Following the transaction, the chief executive officer now directly owns 105,213 shares in the company, valued at $27,354,327.87. The disclosure for this sale can be found here. Insiders sold a total of 35,616 shares of company stock worth $9,319,448 over the last three months. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its holdings in shares of Autodesk by 12.2% during the fourth quarter. Manchester Capital Management LLC now owns 1,551 shares of the software company’s stock valued at $378,000 after acquiring an additional 169 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Autodesk by 86.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,466 shares of the software company’s stock worth $1,959,000 after acquiring an additional 4,381 shares during the period. CWA Asset Management Group LLC purchased a new stake in Autodesk during the 3rd quarter valued at about $330,000. abrdn plc raised its stake in shares of Autodesk by 26.2% in the fourth quarter. abrdn plc now owns 460,759 shares of the software company’s stock worth $112,186,000 after purchasing an additional 95,723 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Autodesk in the fourth quarter valued at approximately $7,280,000. 90.24% of the stock is owned by institutional investors.

Autodesk Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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