Royal Bank of Canada Raises Autodesk (NASDAQ:ADSK) Price Target to $205.00

Autodesk (NASDAQ:ADSK) had its price target increased by Royal Bank of Canada from $189.00 to $205.00 in a research report released on Monday morning, The Fly reports. They currently have an outperform rating on the software company’s stock.

A number of other brokerages have also recently weighed in on ADSK. Zacks Investment Research cut shares of Autodesk from a hold rating to a sell rating and set a $189.00 price target for the company. in a research report on Thursday, November 28th. ValuEngine cut shares of Autodesk from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on shares of Autodesk from $150.00 to $164.00 and gave the stock an equal weight rating in a research report on Wednesday, November 27th. Oppenheimer upped their price objective on shares of Autodesk from $175.00 to $200.00 and gave the company an outperform rating in a research report on Wednesday, November 27th. Finally, Canaccord Genuity upped their price objective on shares of Autodesk from $160.00 to $195.00 and gave the company a buy rating in a research report on Wednesday, November 27th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $185.50.

Shares of NASDAQ ADSK opened at $191.19 on Monday. Autodesk has a 52-week low of $129.70 and a 52-week high of $193.42. The firm has a fifty day moving average of $182.61 and a 200-day moving average of $161.22. The stock has a market capitalization of $42.33 billion, a PE ratio of 1,738.09, a P/E/G ratio of 3.45 and a beta of 1.89.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Autodesk had a net margin of 4.74% and a negative return on equity of 113.06%. The company had revenue of $842.70 million during the quarter, compared to analysts’ expectations of $823.95 million. During the same period in the previous year, the company earned $0.29 EPS. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, sell-side analysts forecast that Autodesk will post 1.47 earnings per share for the current fiscal year.

In other Autodesk news, SVP Carmel Galvin sold 4,994 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $185.00, for a total value of $923,890.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.12% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Keudell Morrison Wealth Management bought a new position in shares of Autodesk in the second quarter valued at approximately $2,288,000. Pictet Asset Management Ltd. boosted its holdings in shares of Autodesk by 1.7% in the second quarter. Pictet Asset Management Ltd. now owns 1,897,370 shares of the software company’s stock valued at $309,082,000 after acquiring an additional 31,287 shares in the last quarter. MML Investors Services LLC boosted its holdings in shares of Autodesk by 10.2% in the second quarter. MML Investors Services LLC now owns 5,767 shares of the software company’s stock valued at $939,000 after acquiring an additional 535 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Autodesk by 14.1% in the second quarter. APG Asset Management N.V. now owns 140,791 shares of the software company’s stock valued at $20,139,000 after acquiring an additional 17,400 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its holdings in shares of Autodesk by 1.0% in the second quarter. United Capital Financial Advisers LLC now owns 20,895 shares of the software company’s stock valued at $3,404,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 95.00% of the company’s stock.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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