Autodesk (NASDAQ:ADSK) Stock Price Expected to Rise, Barclays Analyst Says

Autodesk (NASDAQ:ADSK) had its target price upped by Barclays from $355.00 to $365.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the software company’s stock.

Other equities analysts have also recently issued research reports about the stock. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective on the stock. in a research note on Friday, November 29th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday. Macquarie reiterated an “outperform” rating and issued a $360.00 target price on shares of Autodesk in a report on Friday. Finally, Oppenheimer raised their target price on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Stock Performance

Shares of ADSK opened at $274.23 on Friday. The firm’s 50 day moving average is $296.63 and its 200-day moving average is $286.83. The stock has a market capitalization of $58.96 billion, a P/E ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Equities research analysts anticipate that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Trading of Autodesk

Institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in Autodesk in the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new position in shares of Autodesk in the third quarter valued at approximately $28,000. Investment Management Corp VA ADV bought a new position in shares of Autodesk in the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC raised its position in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Autodesk in the fourth quarter valued at approximately $30,000. 90.24% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; 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.