Autodesk, Inc. (NASDAQ:ADSK) Given Average Rating of “Moderate Buy” by Brokerages

Autodesk, Inc. (NASDAQ:ADSK) has been assigned a consensus rating of “Moderate Buy” from the thirty-one research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, twenty-two have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $330.9643.

Several research analysts recently commented on the company. Robert W. Baird cut their price target on Autodesk from $355.00 to $312.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Arete Research cut their price target on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. UBS Group cut their price target on Autodesk from $400.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Rosenblatt Securities cut their price objective on Autodesk from $375.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, BTIG Research cut their price objective on Autodesk from $365.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 27th.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. Glenmede Trust Co. NA lifted its position in shares of Autodesk by 2.9% in the 1st quarter. Glenmede Trust Co. NA now owns 120,637 shares of the software company’s stock worth $28,880,000 after buying an additional 3,361 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Autodesk in the 1st quarter valued at about $1,798,000. Wellington Grp LLC boosted its holdings in shares of Autodesk by 873.7% in the 1st quarter. Wellington Grp LLC now owns 185 shares of the software company’s stock valued at $44,000 after buying an additional 166 shares during the period. GKV Capital Management Co. Inc. acquired a new position in shares of Autodesk in the 1st quarter valued at about $53,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Autodesk in the 1st quarter valued at about $1,034,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk News Summary

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Jefferies upgraded Autodesk to “strong-buy”, citing expectations for a modest revenue beat driven by continued execution in core design and construction software. Zacks.com
• Positive Sentiment: Analysts expect Autodesk to post a first-quarter earnings beat and likely reaffirm full-year guidance, which would reinforce confidence in management’s outlook. Autodesk expected to deliver first quarter earnings beat, in-line outlook
• Positive Sentiment: Autodesk’s AI and cloud momentum remains a key bullish driver, and a Zacks comparison article argued Autodesk has the edge over Adobe on growth estimates and year-to-date performance. Adobe vs. Autodesk: Which Creative Software Stock is the Better Buy?
• Neutral Sentiment: Autodesk is expected to report a modest revenue beat, but management may present an in-line outlook rather than a major raise, which could limit upside if expectations are already high. Autodesk expected to deliver first quarter earnings beat, in-line outlook
• Neutral Sentiment: A new research update with Dodge Construction Network suggests North America is still behind in DfMA adoption, but the market is poised for growth, which supports Autodesk’s long-term opportunity without changing near-term fundamentals. North America Lags in Productization and DfMA Adoption, but Momentum Is Building
• Negative Sentiment: Heading into earnings, investors remain cautious that Autodesk’s sales-optimization changes could weigh on subscription billings, creating some uncertainty around near-term revenue quality. Autodesk to Report Q1 Earnings: What’s in the Cards for the Stock?

Autodesk Trading Down 0.5%

NASDAQ:ADSK opened at $237.00 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.85. Autodesk has a one year low of $214.10 and a one year high of $329.09. The business’s 50-day simple moving average is $239.10 and its 200 day simple moving average is $261.01. The stock has a market cap of $50.04 billion, a price-to-earnings ratio of 45.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.64 by $0.21. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts predict that Autodesk will post 9.35 earnings per share for the current fiscal year.

About Autodesk

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.