Stifel Nicolaus Cuts Autodesk (NASDAQ:ADSK) Price Target to $350.00

Autodesk (NASDAQ:ADSK) had its price objective reduced by Stifel Nicolaus from $360.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the software company’s stock.

Several other equities research analysts also recently commented on the company. Barclays boosted their price objective on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler upgraded Autodesk from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. UBS Group assumed coverage on Autodesk in a report on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. BMO Capital Markets boosted their price objective on Autodesk from $287.00 to $308.00 and gave the company a “market perform” rating in a report on Wednesday, November 27th. Finally, Scotiabank assumed coverage on Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $334.86.

Autodesk Trading Down 2.9 %

Shares of ADSK stock opened at $274.23 on Friday. The company has a market cap of $58.96 billion, a P/E ratio of 54.41, a PEG ratio of 2.94 and a beta of 1.43. The stock has a 50 day simple moving average of $296.63 and a two-hundred day simple moving average of $286.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADSK. J.W. Cole Advisors Inc. boosted its position in Autodesk by 70.9% in the third quarter. J.W. Cole Advisors Inc. now owns 1,521 shares of the software company’s stock worth $419,000 after purchasing an additional 631 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Autodesk in the third quarter worth $307,000. Financial Advocates Investment Management lifted its position in shares of Autodesk by 3.4% during the 3rd quarter. Financial Advocates Investment Management now owns 2,092 shares of the software company’s stock valued at $576,000 after buying an additional 69 shares during the last quarter. Goldstone Financial Group LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $288,000. Finally, Catalyst Financial Partners LLC purchased a new position in shares of Autodesk during the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.