Stifel Nicolaus Cuts Autodesk (NASDAQ:ADSK) Price Target to $285.00

Autodesk (NASDAQ:ADSK) had its target price trimmed by Stifel Nicolaus from $375.00 to $285.00 in a research note published on Monday morning, MarketBeat.com reports. The firm currently has a buy rating on the software company’s stock.

A number of other research analysts have also weighed in on ADSK. Morgan Stanley dropped their target price on Autodesk from $385.00 to $350.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised Autodesk from a “neutral” rating to an “overweight” rating and set a $319.00 price target for the company in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upgraded Autodesk from a “hold” rating to a “buy” rating and raised their price objective for the company from $345.00 to $375.00 in a research note on Wednesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $355.00 price objective on shares of Autodesk in a report on Monday, November 24th. Finally, Arete Research increased their target price on shares of Autodesk from $430.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $347.89.

Autodesk Stock Up 1.8%

Shares of NASDAQ ADSK opened at $224.86 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50-day moving average price of $263.43 and a 200-day moving average price of $290.54. The stock has a market capitalization of $47.67 billion, a P/E ratio of 43.58, a P/E/G ratio of 1.54 and a beta of 1.45. Autodesk has a 1 year low of $215.01 and a 1 year high of $329.09.

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

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Autodesk during the 4th quarter worth approximately $867,480,000. Northwestern Mutual Wealth Management Co. grew its holdings in Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after purchasing an additional 2,275,384 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock worth $884,884,000 after buying an additional 952,343 shares during the last quarter. Wellington Management Group LLP increased its position in Autodesk by 103.5% in the fourth quarter. Wellington Management Group LLP now owns 1,868,159 shares of the software company’s stock worth $552,994,000 after buying an additional 950,149 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Autodesk in the third quarter valued at $268,649,000. Institutional investors own 90.24% of the company’s stock.

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.