Rosenblatt Securities Has Lowered Expectations for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price decreased by equities research analysts at Rosenblatt Securities from $375.00 to $330.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the software company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 49.50% from the stock’s current price.

Several other analysts have also recently commented on ADSK. Bank of America lifted their target price on shares of Autodesk from $360.00 to $365.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Citigroup reduced their price target on Autodesk from $382.00 to $315.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft raised Autodesk from a “hold” rating to a “buy” rating and increased their target price for the stock from $345.00 to $375.00 in a report on Wednesday, November 26th. Morgan Stanley dropped their price target on Autodesk from $385.00 to $350.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus lowered their target price on shares of Autodesk from $375.00 to $285.00 and set a “buy” rating for the company in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $347.89.

Autodesk Stock Up 1.0%

Shares of NASDAQ ADSK opened at $220.73 on Tuesday. The business has a 50-day moving average of $266.26 and a two-hundred day moving average of $291.49. The company has a market capitalization of $46.79 billion, a price-to-earnings ratio of 42.58, a price-to-earnings-growth ratio of 1.59 and a beta of 1.45. Autodesk has a 1 year low of $216.01 and a 1 year high of $329.09. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.82 and a quick ratio of 0.82.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 25th. The software company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.50 by $0.17. Autodesk had a net margin of 16.09% and a return on equity of 52.06%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the business earned $2.17 EPS. Autodesk’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts forecast that Autodesk will post 5.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Autodesk

A number of large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Autodesk by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,180 shares of the software company’s stock worth $48,661,000 after buying an additional 17,358 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in Autodesk by 18.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 130,669 shares of the software company’s stock worth $41,510,000 after buying an additional 20,543 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in Autodesk by 26.9% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 85,000 shares of the software company’s stock valued at $27,002,000 after acquiring an additional 18,000 shares in the last quarter. Freemont Management S.A. bought a new position in shares of Autodesk in the third quarter worth about $4,765,000. Finally, Renaissance Group LLC acquired a new position in shares of Autodesk during the third quarter worth approximately $33,789,000. 90.24% of the stock is currently owned by institutional investors.

Autodesk Company Profile

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.