According to Zacks, “Autodesk shares have outperformed the industry on a year-to-date basis. The company continues to benefit from growth in both subscriptions and recurring revenues. Also, increasing adoption of BIM 360 solution is a key catalyst. Moreover, Autodesk is well positioned to capitalize on the rapid adoption of computer-aided designing and manufacturing in both its domestic and overseas markets. Meanwhile, estimates have been stable lately ahead of the company's Q1 earnings. The company has positive record of earnings surprises in recent quarters. However, Autodesk’s profitability is expected to hurt from higher spending. The company’s ongoing business model transition remains an overhang. Moreover, significant product concentration is a headwind.”
Several other brokerages have also recently issued reports on ADSK. Evercore ISI reiterated a “buy” rating and issued a $190.00 price objective on shares of Autodesk in a research note on Thursday, March 21st. Argus increased their price objective on Autodesk to $184.00 and gave the company an “average” rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Wedbush reiterated a “neutral” rating and issued a $163.00 price objective on shares of Autodesk in a research note on Friday, March 29th. BidaskClub cut Autodesk from a “buy” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus set a $185.00 price objective on Autodesk and gave the company an “in-line” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company. Autodesk has a consensus rating of “Buy” and an average target price of $173.49.
NASDAQ:ADSK traded up $4.19 during trading hours on Thursday, reaching $177.51. 48,806 shares of the stock were exchanged, compared to its average volume of 1,721,323. Autodesk has a twelve month low of $117.72 and a twelve month high of $178.95. The stock has a market capitalization of $36.31 billion, a price-to-earnings ratio of 1,611.45, a price-to-earnings-growth ratio of 2.46 and a beta of 1.95.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, February 28th. The software company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $737.30 million during the quarter, compared to analyst estimates of $707.09 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. As a group, equities analysts predict that Autodesk will post 1.76 earnings per share for the current fiscal year.
In other Autodesk news, SVP Steven M. Blum sold 16,838 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $168.68, for a total transaction of $2,840,233.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Fronzo Pascal W. Di sold 8,839 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $165.00, for a total value of $1,458,435.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,577 shares of company stock worth $9,509,716. 0.12% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. boosted its holdings in Autodesk by 221.2% in the 1st quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after purchasing an additional 115 shares in the last quarter. Sontag Advisory LLC acquired a new stake in shares of Autodesk during the 4th quarter valued at approximately $25,000. Farmers National Bank acquired a new stake in shares of Autodesk during the 1st quarter valued at approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Autodesk by 975.0% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 215 shares of the software company’s stock valued at $34,000 after acquiring an additional 195 shares during the period. Finally, Clean Yield Group acquired a new stake in shares of Autodesk during the 4th quarter valued at approximately $30,000. 95.60% of the stock is currently owned by hedge funds and other institutional investors.
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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