Autodesk Inc. (ADSK) Receives New Coverage from Analysts at Evercore ISI
Evercore ISI initiated coverage on shares of Autodesk Inc. (NASDAQ:ADSK) in a research note issued on Wednesday. The firm set a “buy” rating and a $80.00 price target on the software company’s stock. Evercore ISI’s price objective indicates a potential upside of 22.12% from the company’s current price.
A number of other equities research analysts have also weighed in on ADSK. Barclays PLC reiterated an “overweight” rating and issued a $70.00 price objective on shares of Autodesk in a research report on Monday, May 23rd. Pacific Crest reiterated an “equal weight” rating and issued a $81.00 price objective on shares of Autodesk in a research report on Tuesday, July 12th. RBC Capital Markets reiterated a “sector perform” rating and issued a $64.00 price objective (up from $60.00) on shares of Autodesk in a research report on Sunday, August 21st. Wedbush lifted their price objective on Autodesk to $60.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Finally, Zacks Investment Research upgraded Autodesk from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.09.
Shares of Autodesk (NASDAQ:ADSK) traded down 0.41% during midday trading on Wednesday, reaching $65.51. The company had a trading volume of 1,843,590 shares. Autodesk has a one year low of $41.60 and a one year high of $69.21. The company’s market capitalization is $14.54 billion. The company has a 50-day moving average price of $63.32 and a 200 day moving average price of $58.88.
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Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.18. Autodesk had a negative return on equity of 5.95% and a negative net margin of 15.05%. The business had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. During the same period last year, the company earned $0.19 EPS. Autodesk’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts anticipate that Autodesk will post ($0.59) earnings per share for the current fiscal year.
In other Autodesk news, CEO Carl Bass sold 26,209 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $56.00, for a total transaction of $1,467,704.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Betsy Rafael sold 4,416 shares of the business’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $67.80, for a total value of $299,404.80. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. RMB Capital Management LLC raised its stake in Autodesk by 10.0% in the first quarter. RMB Capital Management LLC now owns 3,908 shares of the software company’s stock valued at $228,000 after buying an additional 354 shares in the last quarter. Teachers Advisors Inc. raised its stake in Autodesk by 4.4% in the first quarter. Teachers Advisors Inc. now owns 313,507 shares of the software company’s stock valued at $18,281,000 after buying an additional 13,315 shares in the last quarter. Ngam Advisors L.P. raised its stake in Autodesk by 8.6% in the first quarter. Ngam Advisors L.P. now owns 601,867 shares of the software company’s stock valued at $35,095,000 after buying an additional 47,668 shares in the last quarter. IFP Advisors Inc raised its stake in Autodesk by 15.5% in the first quarter. IFP Advisors Inc now owns 1,715 shares of the software company’s stock valued at $100,000 after buying an additional 230 shares in the last quarter. Finally, Nisa Investment Advisors L.L.C. raised its stake in Autodesk by 0.3% in the first quarter. Nisa Investment Advisors L.L.C. now owns 33,773 shares of the software company’s stock valued at $1,969,000 after buying an additional 100 shares in the last quarter. 97.19% of the stock is owned by institutional investors and hedge funds.
Autodesk Company Profile
Autodesk, Inc (Autodesk) is a design software and services company, offering customers productive business solutions through technology products and services. The Company serves customers in the architecture, engineering and construction; manufacturing, and digital media, consumer and entertainment industries.
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