Stifel Nicolaus Issues Pessimistic Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price objective dropped by equities researchers at Stifel Nicolaus from $360.00 to $350.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the software company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 30.61% from the company’s previous close.

Several other research analysts have also commented on ADSK. Macquarie reissued an “outperform” rating and issued a $360.00 price objective on shares of Autodesk in a research note on Friday. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Oppenheimer upped their price objective on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. UBS Group began coverage on Autodesk in a research note on Monday, December 2nd. They issued a “buy” rating and a $350.00 price objective on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and set a $325.00 target price on shares of Autodesk in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $333.50.

Autodesk Trading Down 5.1 %

Shares of ADSK traded down $14.37 during midday trading on Friday, hitting $267.98. 2,140,607 shares of the stock were exchanged, compared to its average volume of 1,453,740. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day simple moving average of $297.11 and a 200 day simple moving average of $286.59. The firm has a market cap of $57.62 billion, a P/E ratio of 53.25, a P/E/G ratio of 2.94 and a beta of 1.43.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. Autodesk’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. On average, research analysts anticipate that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in ADSK. Vanguard Group Inc. grew its stake in Autodesk by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 20,385,461 shares of the software company’s stock worth $6,025,331,000 after buying an additional 119,034 shares during the last quarter. State Street Corp boosted its holdings in shares of Autodesk by 3.0% in the third quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock valued at $2,702,028,000 after acquiring an additional 288,931 shares during the period. FMR LLC grew its position in shares of Autodesk by 0.8% during the third quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock worth $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Autodesk by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 4,715,702 shares of the software company’s stock valued at $1,391,145,000 after acquiring an additional 45,623 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Autodesk by 28.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,053,750 shares of the software company’s stock valued at $902,597,000 after purchasing an additional 667,763 shares during the last quarter. Institutional investors and hedge funds 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.