Credit Suisse Group Analysts Give Autodesk (ADSK) a $160.00 Price Target

Credit Suisse Group set a $160.00 price target on Autodesk (NASDAQ:ADSK) in a research report sent to investors on Tuesday morning. The firm currently has a buy rating on the software company’s stock.

Other analysts have also recently issued reports about the company. BidaskClub cut Autodesk from a buy rating to a hold rating in a report on Tuesday, July 24th. Zacks Investment Research cut Autodesk from a hold rating to a sell rating in a report on Wednesday, July 25th. Guggenheim reissued a neutral rating and issued a $150.00 price target on shares of Autodesk in a report on Wednesday, August 8th. Wedbush reissued a neutral rating and issued a $137.00 price target on shares of Autodesk in a report on Friday, August 17th. Finally, Barclays raised their price target on Autodesk from $152.00 to $166.00 and gave the company an overweight rating in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. Autodesk has a consensus rating of Buy and a consensus price target of $160.67.

Shares of ADSK stock opened at $135.04 on Tuesday. Autodesk has a twelve month low of $101.55 and a twelve month high of $159.94.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 20th. The software company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. Autodesk had a negative return on equity of 3,087.49% and a negative net margin of 13.37%. The company had revenue of $661.00 million for the quarter, compared to the consensus estimate of $641.07 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 28.3% on a year-over-year basis. On average, research analysts anticipate that Autodesk will post 0.05 EPS for the current year.

In related news, Director Lorrie M. Norrington sold 5,001 shares of Autodesk stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $156.75, for a total transaction of $783,906.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Anagnost sold 23,008 shares of Autodesk stock in a transaction on Friday, October 5th. The stock was sold at an average price of $152.03, for a total value of $3,497,906.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,009 shares of company stock valued at $4,431,583. 0.14% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Matthew Goff Investment Advisor LLC acquired a new position in Autodesk during the third quarter worth $1,210,000. Morgan Stanley raised its holdings in Autodesk by 2.3% during the third quarter. Morgan Stanley now owns 1,843,405 shares of the software company’s stock worth $287,774,000 after purchasing an additional 41,253 shares during the last quarter. Nordea Investment Management AB raised its holdings in Autodesk by 1.7% during the third quarter. Nordea Investment Management AB now owns 216,987 shares of the software company’s stock worth $33,873,000 after purchasing an additional 3,594 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Autodesk by 4.9% during the third quarter. TIAA CREF Investment Management LLC now owns 531,253 shares of the software company’s stock worth $82,934,000 after purchasing an additional 24,917 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in Autodesk by 2.4% during the third quarter. Teachers Advisors LLC now owns 477,368 shares of the software company’s stock worth $74,522,000 after purchasing an additional 11,205 shares during the last quarter. 95.88% of the stock is owned by hedge funds and other institutional investors.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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