Autodesk (NASDAQ:ADSK) Sets New 1-Year Low on Analyst Downgrade

Autodesk, Inc. (NASDAQ:ADSKGet Free Report) shares hit a new 52-week low on Tuesday after Rosenblatt Securities lowered their price target on the stock from $375.00 to $330.00. Rosenblatt Securities currently has a buy rating on the stock. Autodesk traded as low as $215.01 and last traded at $224.2810, with a volume of 309806 shares traded. The stock had previously closed at $218.64.

Other equities research analysts have also issued reports about the company. UBS Group lowered their price objective on Autodesk from $400.00 to $290.00 and set a “buy” rating for the company in a research note on Monday. Barclays dropped their target price on Autodesk from $390.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday. Loop Capital cut their target price on Autodesk from $320.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. JPMorgan Chase & Co. raised Autodesk from a “neutral” rating to an “overweight” rating and set a $319.00 price target for the company in a research note on Monday, February 2nd. Finally, Morgan Stanley cut their price target on shares of Autodesk from $385.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $347.89.

View Our Latest Analysis on ADSK

Autodesk News Roundup

Here are the key news stories impacting Autodesk this week:

Institutional Trading of Autodesk

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Torren Management LLC purchased a new stake in shares of Autodesk during the 4th quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk during the third quarter valued at about $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Archer Investment Corp grew its position in shares of Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock worth $26,000 after buying an additional 46 shares during the last quarter. Finally, Proffitt & Goodson Inc. bought a new position in shares of Autodesk during the 3rd quarter worth approximately $27,000. Institutional investors own 90.24% of the company’s stock.

Autodesk Price Performance

The company has a market cap of $47.46 billion, a PE ratio of 43.36, a PEG ratio of 1.59 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.82 and a quick ratio of 0.82. The stock’s 50-day moving average is $266.26 and its 200 day moving average is $291.49.

Autodesk (NASDAQ:ADSKGet Free Report) last issued its quarterly earnings results on Tuesday, November 25th. The software company reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.17. Autodesk had a return on equity of 52.06% and a net margin of 16.09%.The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. The business’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts anticipate that Autodesk, Inc. will post 5.76 earnings per share for the current fiscal year.

Autodesk Company Profile

(Get Free Report)

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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