Autodesk (NASDAQ:ADSK) Price Target Lowered to $330.00 at Mizuho

Autodesk (NASDAQ:ADSK) had its target price decreased by Mizuho from $380.00 to $330.00 in a research note issued to investors on Wednesday morning, The Fly reports. Mizuho currently has a buy rating on the software company’s stock. The analysts noted that the move was a valuation call.

A number of other brokerages also recently commented on ADSK. Guggenheim reiterated a hold rating on shares of Autodesk in a research report on Monday, September 6th. Zacks Investment Research upgraded Autodesk from a sell rating to a hold rating and set a $324.00 price objective for the company in a research report on Wednesday, July 28th. Credit Suisse Group reduced their price objective on Autodesk from $450.00 to $440.00 and set an outperform rating for the company in a research report on Wednesday. Stifel Nicolaus raised their price objective on Autodesk from $340.00 to $365.00 and gave the stock a buy rating in a research report on Wednesday, November 17th. Finally, Oppenheimer reduced their price objective on Autodesk from $350.00 to $315.00 and set an outperform rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of $337.00.

ADSK opened at $256.90 on Wednesday. The firm has a market capitalization of $56.48 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.36. The stock’s 50 day moving average price is $301.09 and its two-hundred day moving average price is $298.95. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.23. Autodesk has a 12-month low of $245.05 and a 12-month high of $344.39.

Autodesk (NASDAQ:ADSK) last released its earnings results on Monday, November 22nd. The software company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. As a group, analysts anticipate that Autodesk will post 2.86 earnings per share for the current year.

In other news, CAO Stephen W. Hope sold 262 shares of Autodesk stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total value of $75,052.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew Anagnost sold 2,434 shares of Autodesk stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $286.18, for a total value of $696,562.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,263 shares of company stock valued at $2,384,406. Corporate insiders own 0.11% of the company’s stock.

Large investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new position in Autodesk in the second quarter valued at about $27,000. Trustcore Financial Services LLC lifted its holdings in shares of Autodesk by 109.7% in the third quarter. Trustcore Financial Services LLC now owns 130 shares of the software company’s stock valued at $37,000 after purchasing an additional 68 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Autodesk by 35.6% in the third quarter. AdvisorNet Financial Inc now owns 137 shares of the software company’s stock valued at $39,000 after purchasing an additional 36 shares in the last quarter. Newfound Research LLC bought a new stake in shares of Autodesk in the third quarter valued at about $56,000. Finally, Monetary Management Group Inc. bought a new stake in shares of Autodesk in the second quarter valued at about $58,000. 86.61% of the stock is owned by hedge funds and other institutional investors.

Autodesk Company Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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