Autodesk (NASDAQ:ADSK) Price Target Cut to $220.00 by Analysts at Oppenheimer

Autodesk (NASDAQ:ADSKGet Rating) had its price target dropped by research analysts at Oppenheimer from $255.00 to $220.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the software company’s stock. Oppenheimer’s target price suggests a potential upside of 11.64% from the company’s previous close.

Other analysts have also issued research reports about the stock. Mizuho increased their price target on shares of Autodesk from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, November 15th. Citigroup reduced their price target on shares of Autodesk from $277.00 to $256.00 and set a “buy” rating on the stock in a research report on Friday, November 18th. KeyCorp dropped their price objective on shares of Autodesk from $264.00 to $237.00 and set an “overweight” rating for the company in a research note on Wednesday. Rosenblatt Securities dropped their price objective on shares of Autodesk from $285.00 to $270.00 and set a “buy” rating for the company in a research note on Thursday, August 25th. Finally, Robert W. Baird dropped their price objective on shares of Autodesk to $255.00 in a research note on Thursday, November 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.19.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $197.07 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 3.08. The firm has a market cap of $42.54 billion, a PE ratio of 69.64, a PEG ratio of 1.85 and a beta of 1.49. The company’s 50 day moving average price is $201.56 and its two-hundred day moving average price is $198.86. Autodesk has a 12-month low of $163.20 and a 12-month high of $285.38.

Autodesk (NASDAQ:ADSKGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The software company reported $1.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.70. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Autodesk had a net margin of 12.64% and a return on equity of 113.63%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.68 EPS. Equities research analysts predict that Autodesk will post 4.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Andrew Anagnost sold 34,366 shares of Autodesk stock in a transaction on Monday, August 29th. The shares were sold at an average price of $206.87, for a total transaction of $7,109,294.42. Following the completion of the transaction, the chief executive officer now owns 76,968 shares of the company’s stock, valued at $15,922,370.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently bought and sold shares of ADSK. Venture Visionary Partners LLC acquired a new stake in Autodesk in the second quarter worth $30,000. TD Capital Management LLC acquired a new stake in Autodesk in the third quarter worth $30,000. Resources Management Corp CT ADV grew its holdings in Autodesk by 1,100.0% in the second quarter. Resources Management Corp CT ADV now owns 180 shares of the software company’s stock worth $31,000 after purchasing an additional 165 shares during the period. CNB Bank grew its holdings in Autodesk by 107.9% in the second quarter. CNB Bank now owns 185 shares of the software company’s stock worth $32,000 after purchasing an additional 96 shares during the period. Finally, First Manhattan Co. grew its holdings in Autodesk by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company’s stock worth $33,000 after purchasing an additional 120 shares during the period. Institutional investors own 86.44% of the company’s stock.

Autodesk Company Profile

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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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