Autodesk (NASDAQ:ADSK) Price Target Cut to $250.00

Autodesk (NASDAQ:ADSKGet Rating) had its price objective lowered by equities researchers at KeyCorp from $260.00 to $250.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the software company’s stock. KeyCorp’s target price would suggest a potential upside of 30.46% from the company’s previous close.

Several other research firms have also recently weighed in on ADSK. Stifel Europe cut their price target on shares of Autodesk from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Monday, February 28th. Stifel Nicolaus dropped their price target on Autodesk from $285.00 to $230.00 and set a “buy” rating on the stock in a report on Monday. Credit Suisse Group cut their price objective on Autodesk from $440.00 to $335.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Rosenblatt Securities lowered their target price on Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. Finally, Citigroup reduced their price target on shares of Autodesk from $286.00 to $264.00 and set a “buy” rating for the company in a research report on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of “Buy” and an average target price of $265.45.

NASDAQ:ADSK opened at $191.63 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a one year low of $173.90 and a one year high of $344.39. The company has a market cap of $41.73 billion, a PE ratio of 85.93 and a beta of 1.44. The firm has a 50-day moving average of $198.81 and a 200-day moving average of $235.31.

Autodesk (NASDAQ:ADSKGet Rating) last posted its earnings results on Thursday, May 26th. The software company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Autodesk had a return on equity of 55.95% and a net margin of 11.33%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities research analysts expect that Autodesk will post 4.25 earnings per share for the current fiscal year.

In other Autodesk news, CFO Deborah Clifford sold 3,953 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $202.71, for a total value of $801,312.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen W. Hope sold 1,626 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $345,199.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,458 shares of company stock worth $1,545,628. Corporate insiders own 0.11% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ADSK. Vanguard Group Inc. grew its holdings in Autodesk by 1.3% during the first quarter. Vanguard Group Inc. now owns 17,944,670 shares of the software company’s stock valued at $3,846,439,000 after purchasing an additional 230,892 shares during the period. State Street Corp increased its holdings in Autodesk by 3.9% in the 4th quarter. State Street Corp now owns 8,786,922 shares of the software company’s stock worth $2,470,795,000 after acquiring an additional 333,863 shares in the last quarter. Polen Capital Management LLC raised its stake in Autodesk by 18.7% during the 1st quarter. Polen Capital Management LLC now owns 8,650,112 shares of the software company’s stock worth $1,854,152,000 after acquiring an additional 1,365,221 shares during the period. Brown Advisory Inc. raised its position in shares of Autodesk by 18.3% during the 4th quarter. Brown Advisory Inc. now owns 5,839,301 shares of the software company’s stock valued at $1,641,953,000 after purchasing an additional 902,168 shares during the period. Finally, Norges Bank bought a new position in shares of Autodesk in the fourth quarter worth about $1,504,904,000. 89.55% of the stock is currently owned by institutional investors.

About Autodesk (Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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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