Autodesk (ADSK) Stock Rating Reaffirmed by Wedbush

Wedbush restated their neutral rating on shares of Autodesk (NASDAQ:ADSK) in a report issued on Tuesday, RTT News reports. They currently have a $166.00 target price on the software company’s stock, up from their previous target price of $163.00. Wedbush also issued estimates for Autodesk’s Q1 2020 earnings at $0.24 EPS, Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.76 EPS, FY2020 earnings at $1.89 EPS, Q1 2021 earnings at $0.78 EPS, Q2 2021 earnings at $0.94 EPS, Q3 2021 earnings at $1.03 EPS, Q4 2021 earnings at $1.18 EPS and FY2021 earnings at $3.93 EPS.

Several other research firms have also issued reports on ADSK. Evercore ISI restated a buy rating and issued a $190.00 price target on shares of Autodesk in a research report on Thursday, March 21st. Argus lifted their price target on shares of Autodesk to $184.00 and gave the stock an average rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Autodesk from a hold rating to a sell rating in a research report on Wednesday, January 23rd. BidaskClub lowered shares of Autodesk from a buy rating to a hold rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus set a $185.00 price target on shares of Autodesk and gave the stock an in-line rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $173.49.

Autodesk stock opened at $174.33 on Tuesday. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 1,584.82, a price-to-earnings-growth ratio of 2.64 and a beta of 1.95. Autodesk has a 1 year low of $117.72 and a 1 year high of $178.95.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The business had revenue of $737.30 million during the quarter, compared to analyst estimates of $707.09 million. During the same quarter last year, the firm posted ($0.09) EPS. Equities analysts forecast that Autodesk will post 1.76 EPS for the current year.

In other Autodesk news, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $152.90, for a total transaction of $152,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Fronzo Pascal W. Di sold 8,839 shares of Autodesk stock in a transaction on Monday, February 25th. The shares were sold at an average price of $165.00, for a total transaction of $1,458,435.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,577 shares of company stock worth $9,509,716. Corporate insiders own 0.12% of the company’s stock.

Large investors have recently modified their holdings of the business. Sontag Advisory LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at $25,000. First Manhattan Co. boosted its stake in shares of Autodesk by 221.2% during the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after buying an additional 115 shares during the period. Clean Yield Group acquired a new stake in shares of Autodesk during the 4th quarter valued at $30,000. Berman Capital Advisors LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at $30,000. Finally, Liberty Wealth Management LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at $30,000. 95.60% of the stock is owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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