Autodesk (NASDAQ:ADSK) Price Target Cut to $250.00 by Analysts at Mizuho

Autodesk (NASDAQ:ADSK – Get Rating) had its price target decreased by Mizuho from $285.00 to $250.00 in a research note released on Wednesday morning, The Fly reports. Mizuho currently has a buy rating on the software company’s stock.

Several other equities analysts have also weighed in on the company. Piper Sandler cut their target price on Autodesk from $340.00 to $298.00 and set an overweight rating on the stock in a report on Friday, February 25th. Rosenblatt Securities reduced their target price on Autodesk from $340.00 to $300.00 and set a buy rating for the company in a report on Friday, February 25th. StockNews.com upgraded Autodesk from a hold rating to a buy rating in a report on Tuesday, May 17th. TheStreet cut shares of Autodesk from a b- rating to a c+ rating in a research note on Tuesday, March 8th. Finally, Argus decreased their price objective on shares of Autodesk from $360.00 to $290.00 in a report on Monday, February 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Autodesk presently has an average rating of Buy and an average price target of $282.50.

NASDAQ:ADSK opened at $191.41 on Wednesday. The company has a market capitalization of $41.69 billion, a P/E ratio of 85.83 and a beta of 1.44. The stock’s 50 day moving average price is $200.42 and its 200 day moving average price is $238.58. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk has a 52 week low of $175.41 and a 52 week high of $344.39.

Autodesk (NASDAQ:ADSK – Get Rating) last posted its earnings results on Thursday, February 24th. The software company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.91 by $0.07. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, sell-side analysts forecast that Autodesk will post 4.25 earnings per share for the current fiscal year.

In other news, CAO Stephen W. Hope sold 1,626 shares of Autodesk stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Deborah Clifford sold 1,820 shares of the stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $386,386.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,458 shares of company stock valued at $1,545,628. Insiders own 0.11% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in Autodesk by 5.8% in the fourth quarter. Russell Investments Group Ltd. now owns 370,378 shares of the software company’s stock valued at $104,154,000 after acquiring an additional 20,146 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Autodesk by 530.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 130,995 shares of the software company’s stock worth $36,834,000 after purchasing an additional 110,223 shares in the last quarter. Morgan Stanley lifted its holdings in Autodesk by 4.7% during the 3rd quarter. Morgan Stanley now owns 674,197 shares of the software company’s stock valued at $192,261,000 after purchasing an additional 30,496 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Autodesk in the third quarter valued at about $1,734,000. Finally, Bigelow Investment Advisors LLC bought a new stake in Autodesk during the fourth quarter worth about $257,000. 89.55% of the stock is owned by institutional investors and hedge funds.

Autodesk Company Profile (Get Rating)

Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.

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