Autodesk Inc. (ADSK) Research Coverage Started at Evercore ISI
Evercore ISI started coverage on shares of Autodesk Inc. (NASDAQ:ADSK) in a research note issued to investors on Wednesday. The brokerage issued a buy rating and a $80.00 price objective on the software company’s stock.
A number of other research firms have also weighed in on ADSK. Citigroup Inc. set a $65.00 target price on shares of Autodesk and gave the stock a hold rating in a report on Sunday, August 28th. Mitsubishi UFJ Financial Group downgraded shares of Autodesk from an equal weight rating to an underweight rating and set a $50.00 price target on the stock. in a research report on Monday, August 29th. Wedbush started coverage on shares of Autodesk in a research report on Friday, September 9th. They issued a neutral rating and a $60.00 price target on the stock. Rosenblatt Securities downgraded shares of Autodesk from a neutral rating to a sell rating in a research report on Tuesday, August 30th. Finally, RBC Capital Markets restated a sector perform rating and issued a $64.00 price target (up previously from $60.00) on shares of Autodesk in a research report on Sunday, August 21st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company’s stock. Autodesk presently has an average rating of Hold and an average price target of $67.09.
Autodesk (NASDAQ:ADSK) opened at 68.13 on Wednesday. The company has a 50-day moving average of $64.22 and a 200-day moving average of $59.27. The company’s market cap is $15.12 billion. Autodesk has a 52-week low of $41.60 and a 52-week high of $69.21.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 25th. The software company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.18. Autodesk had a negative net margin of 15.05% and a negative return on equity of 5.95%. The firm had revenue of $550.70 million for the quarter, compared to analyst estimates of $511.49 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts expect that Autodesk will post ($0.60) earnings per share for the current fiscal year.
In other Autodesk news, CEO Carl Bass sold 26,209 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $56.00, for a total transaction of $1,467,704.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Crawford W. Beveridge sold 7,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $67.58, for a total transaction of $473,060.00. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc increased 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 during the period. Meeder Asset Management Inc. acquired a new stake in Autodesk during the first quarter valued at approximately $109,000. Howard Hughes Medical Institute acquired a new stake in Autodesk during the second quarter valued at approximately $113,000. Bessemer Group Inc. increased its stake in Autodesk by 1,177.2% in the second quarter. Bessemer Group Inc. now owns 2,350 shares of the software company’s stock valued at $127,000 after buying an additional 2,166 shares during the period. Finally, Mizuho Asset Management Co. Ltd. increased its stake in Autodesk by 71.8% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,761 shares of the software company’s stock valued at $149,000 after buying an additional 1,154 shares during the period. 97.19% of the stock is currently 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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