Autodesk (NASDAQ:ADSK) Price Target Raised to $385.00 at Morgan Stanley

Autodesk (NASDAQ:ADSK) had its price objective increased by investment analysts at Morgan Stanley from $375.00 to $385.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the software company’s stock. Morgan Stanley’s target price suggests a potential upside of 36.36% from the stock’s current price.

Several other research firms have also recently commented on ADSK. Bank of America upped their target price on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price objective on Autodesk from $330.00 to $345.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. HSBC downgraded Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research note on Friday, November 29th. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Barclays raised their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $333.91.

Autodesk Price Performance

Shares of ADSK opened at $282.35 on Friday. Autodesk has a 12 month low of $195.32 and a 12 month high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a fifty day moving average price of $297.11 and a 200 day moving average price of $286.59. The company has a market cap of $60.71 billion, a P/E ratio of 56.02, a PEG ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. On average, research analysts forecast that Autodesk will post 5.76 earnings per share for the current year.

Institutional Investors Weigh In On Autodesk

A number of institutional investors have recently added to or reduced their stakes in ADSK. Vanguard Group Inc. lifted its position in shares of Autodesk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after buying an additional 119,034 shares during the period. State Street Corp grew its stake in Autodesk by 3.0% during the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after buying an additional 288,931 shares during the last quarter. FMR LLC grew its stake in Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after buying an additional 46,069 shares during the last quarter. Geode Capital Management LLC increased its holdings in Autodesk by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after purchasing an additional 45,623 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Autodesk by 28.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock worth $902,597,000 after acquiring an additional 667,763 shares during the last quarter. 90.24% of the stock is owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.