Autodesk (NASDAQ:ADSK) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report issued on Tuesday morning, BidAskClub reports.

ADSK has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on Autodesk from $175.00 to $181.00 and gave the stock an underweight rating in a report on Friday, February 28th. Argus increased their price target on Autodesk to $200.00 and gave the stock a buy rating in a report on Tuesday, December 3rd. Bank of America raised their target price on Autodesk from $127.00 to $150.00 and gave the company an underperform rating in a report on Friday, February 28th. Zacks Investment Research lowered Autodesk from a buy rating to a hold rating and set a $193.00 target price on the stock. in a report on Friday, March 6th. Finally, Robert W. Baird restated a buy rating and issued a $250.00 target price on shares of Autodesk in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $204.91.

NASDAQ:ADSK traded up $0.03 on Tuesday, hitting $149.99. The stock had a trading volume of 2,496,946 shares, compared to its average volume of 2,130,820. The business’s fifty day moving average is $182.78 and its 200 day moving average is $171.50. The company has a market cap of $31.64 billion, a PE ratio of 156.24, a P/E/G ratio of 1.15 and a beta of 1.66. Autodesk has a 52 week low of $125.38 and a 52 week high of $211.58.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, February 27th. The software company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $899.30 million for the quarter, compared to analyst estimates of $891.06 million. Autodesk had a negative return on equity of 165.74% and a net margin of 6.55%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, analysts anticipate that Autodesk will post 2.89 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Autodesk by 20.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,249,805 shares of the software company’s stock valued at $229,089,000 after acquiring an additional 209,377 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Autodesk by 2.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,107,230 shares of the software company’s stock valued at $203,132,000 after acquiring an additional 28,460 shares during the last quarter. RMR Wealth Builders purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $177,000. Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $480,386,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Autodesk by 21.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,675 shares of the software company’s stock valued at $1,408,000 after acquiring an additional 1,375 shares during the last quarter. Institutional investors own 92.93% 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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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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