Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Oppenheimer Analyst Says

Autodesk (NASDAQ:ADSK) had its price objective lifted by Oppenheimer from $300.00 to $350.00 in a research report sent to investors on Friday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the software company’s stock.

ADSK has been the subject of a number of other research reports. DA Davidson assumed coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price target for the company. Barclays increased their target price on shares of Autodesk from $310.00 to $355.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wells Fargo & Company lifted their price target on shares of Autodesk from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Friday. Morgan Stanley upped their price target on shares of Autodesk from $320.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Hsbc Global Res upgraded shares of Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $309.43.

Autodesk Price Performance

NASDAQ ADSK opened at $321.27 on Friday. The company has a 50-day moving average price of $286.44 and a 200-day moving average price of $254.61. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $69.07 billion, a P/E ratio of 65.70, a PEG ratio of 3.90 and a beta of 1.47. Autodesk has a 52 week low of $195.32 and a 52 week high of $321.90.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, August 29th. The software company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $1.12 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Insider Activity at Autodesk

In related news, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $305.06, for a total value of $167,783.00. Following the completion of the transaction, the director now owns 30,249 shares in the company, valued at approximately $9,227,759.94. This trade represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Steven M. Blum sold 17,344 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total value of $4,682,880.00. Following the sale, the chief operating officer now owns 17,099 shares in the company, valued at approximately $4,616,730. This trade represents a 50.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,280 shares of company stock valued at $5,232,213. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Autodesk

Institutional investors have recently bought and sold shares of the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Autodesk in the first quarter valued at $25,000. LRI Investments LLC bought a new position in Autodesk during the 1st quarter valued at about $26,000. Livelsberger Financial Advisory purchased a new stake in Autodesk in the 3rd quarter worth about $27,000. Transcendent Capital Group LLC bought a new stake in Autodesk in the third quarter worth about $28,000. Finally, Concord Wealth Partners purchased a new position in shares of Autodesk during the third quarter valued at approximately $28,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Company Profile

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.