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

Autodesk (NASDAQ:ADSK) had its price target raised by equities researchers at Mizuho from $260.00 to $280.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the software company’s stock. Mizuho’s target price would suggest a potential downside of 3.66% from the company’s current price.

ADSK has been the topic of a number of other research reports. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Berenberg Bank upped their price target on shares of Autodesk from $286.00 to $299.00 and gave the company a “hold” rating in a research report on Friday, August 30th. DA Davidson began coverage on Autodesk in a research report on Friday, September 27th. They issued a “neutral” rating and a $260.00 price objective for the company. Royal Bank of Canada boosted their price objective on Autodesk from $290.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, Bank of America raised their target price on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $315.38.

Autodesk Stock Performance

NASDAQ ADSK opened at $290.64 on Wednesday. The company has a market capitalization of $62.49 billion, a price-to-earnings ratio of 59.44, a PEG ratio of 4.08 and a beta of 1.47. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.80. Autodesk has a twelve month low of $195.32 and a twelve month high of $326.62. The stock has a fifty day simple moving average of $289.44 and a 200 day simple moving average of $257.07.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Autodesk will post 5.73 EPS for the current year.

Insider Activity

In related news, CAO Stephen W. Hope sold 286 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the completion of the sale, the chief accounting officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,340,944.36. This represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mary T. Mcdowell sold 550 shares of Autodesk stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $285.31, for a total transaction of $156,920.50. Following the transaction, the director now directly owns 30,799 shares in the company, valued at $8,787,262.69. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,936 shares of company stock worth $549,333 over the last three months. 0.14% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Autodesk by 7.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 6,783 shares of the software company’s stock valued at $1,766,000 after acquiring an additional 448 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Autodesk in the 1st quarter valued at $25,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Autodesk during the 1st quarter valued at $251,000. LRI Investments LLC bought a new stake in shares of Autodesk during the 1st quarter worth $26,000. Finally, Swedbank AB bought a new stake in shares of Autodesk during the 1st quarter worth $39,054,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.