Autodesk (NASDAQ:ADSK) Price Target Cut to $350.00 by Analysts at Stifel Nicolaus

Autodesk (NASDAQ:ADSK) had its target price reduced by research analysts at Stifel Nicolaus from $360.00 to $350.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 30.61% from the stock’s current price.

Several other research firms have also recently commented on ADSK. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. DA Davidson lifted their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their target price on Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Robert W. Baird reduced their price target on Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a report on Friday. Finally, HSBC lowered Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a report on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $333.50.

Autodesk Stock Performance

Autodesk stock traded down $14.37 during mid-day trading on Friday, reaching $267.98. 2,140,607 shares of the company were exchanged, compared to its average volume of 1,453,740. The firm has a market cap of $57.62 billion, a PE ratio of 53.25, a price-to-earnings-growth ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s 50-day simple moving average is $297.11 and its two-hundred day simple moving average is $286.59. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.33 earnings per share. Equities analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Autodesk

A number of large investors have recently bought and sold shares of ADSK. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk in the fourth quarter valued at $25,000. Transcendent Capital Group LLC acquired a new position in Autodesk in the 3rd quarter valued at about $28,000. Investment Management Corp VA ADV purchased a new position in Autodesk in the 4th quarter valued at about $29,000. Tradewinds Capital Management LLC boosted its stake in shares of Autodesk by 100.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Autodesk during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

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.