Oppenheimer Begins Coverage on Autodesk (ADSK)
Oppenheimer started coverage on shares of Autodesk (NASDAQ:ADSK) in a report released on Friday morning. The brokerage issued an outperform rating and a $135.00 price target on the software company’s stock.
A number of other equities research analysts have also weighed in on ADSK. Evercore ISI restated a buy rating and issued a $135.00 target price on shares of Autodesk in a report on Wednesday, September 20th. Robert W. Baird set a $125.00 target price on shares of Autodesk and gave the stock a buy rating in a report on Sunday, October 1st. KeyCorp restated a buy rating and issued a $128.00 target price on shares of Autodesk in a report on Friday, October 6th. Guggenheim upgraded shares of Autodesk from a neutral rating to a buy rating and set a $150.00 price objective for the company in a research note on Monday, November 13th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Autodesk in a research note on Wednesday, November 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $132.77.
Shares of Autodesk (NASDAQ ADSK) opened at $104.83 on Friday. The company has a debt-to-equity ratio of 14.78, a current ratio of 1.07 and a quick ratio of 1.07. Autodesk has a fifty-two week low of $73.60 and a fifty-two week high of $131.10. The firm has a market cap of $23,090.57, a PE ratio of -40.79 and a beta of 1.92.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 28th. The software company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. Autodesk had a negative net margin of 28.46% and a negative return on equity of 93.60%. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $513.63 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. analysts expect that Autodesk will post -1.37 earnings per share for the current fiscal year.
In other news, Director Crawford W. Beveridge sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $106.29, for a total transaction of $159,435.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total transaction of $2,447,125.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,825 shares of company stock valued at $4,595,671. 6.10% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of ADSK. Cable Hill Partners LLC boosted its holdings in Autodesk by 276.7% in the 3rd quarter. Cable Hill Partners LLC now owns 1,292 shares of the software company’s stock worth $145,000 after buying an additional 949 shares during the period. Harfst & Associates Inc. bought a new position in Autodesk in the 2nd quarter worth approximately $150,000. Cedar Capital LLC bought a new position in Autodesk in the 3rd quarter worth approximately $207,000. Wedbush Securities Inc. bought a new position in Autodesk in the 3rd quarter worth approximately $216,000. Finally, Synovus Financial Corp bought a new position in Autodesk in the 3rd quarter worth approximately $227,000. Institutional investors own 95.34% of the company’s stock.
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Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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