Credit Suisse Group AG Reiterates Outperform Rating for Autodesk, Inc. (ADSK)

Autodesk, Inc. (NASDAQ:ADSK)‘s stock had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG in a report released on Friday. They presently have a $120.00 target price on the software company’s stock, up from their previous target price of $115.00. Credit Suisse Group AG’s target price would suggest a potential upside of 25.22% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $125.00 price objective (up from $120.00) on shares of Autodesk in a research note on Friday. Barclays PLC boosted their price objective on shares of Autodesk from $105.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America Corp raised shares of Autodesk from an “underperform” rating to a “neutral” rating and set a $125.00 price objective for the company in a research note on Friday. Royal Bank of Canada raised shares of Autodesk from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $95.00 to $125.00 in a research note on Friday. Finally, Evercore ISI set a $115.00 price objective on shares of Autodesk and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $100.24.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK) traded up 15.21% on Friday, reaching $110.41. The company’s stock had a trading volume of 7,718,151 shares. Autodesk has a 52 week low of $49.82 and a 52 week high of $112.18. The stock’s market capitalization is $24.38 billion. The firm has a 50 day moving average price of $90.03 and a 200 day moving average price of $82.49.

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Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. Autodesk had a negative net margin of 20.30% and a negative return on equity of 13.74%. The company had revenue of $485.70 million during the quarter, compared to analysts’ expectations of $470.27 million. During the same period in the previous year, the company earned ($0.10) EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Autodesk will post ($0.60) EPS for the current year.

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In other Autodesk news, CEO Andrew Anagnost sold 5,540 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $86.00, for a total value of $476,440.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jan Becker sold 2,865 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $95.73, for a total transaction of $274,266.45. The disclosure for this sale can be found here. Insiders sold a total of 132,067 shares of company stock worth $11,323,341 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of Autodesk during the third quarter worth approximately $101,000. Parallel Advisors LLC purchased a new position in shares of Autodesk during the fourth quarter worth approximately $137,000. Independent Advisor Alliance purchased a new position in shares of Autodesk during the fourth quarter worth approximately $138,000. Baird Financial Group Inc. raised its position in shares of Autodesk by 1.0% in the fourth quarter. Baird Financial Group Inc. now owns 2,838 shares of the software company’s stock worth $210,000 after buying an additional 29 shares in the last quarter. Finally, NBT Bank N A NY purchased a new position in shares of Autodesk during the first quarter worth approximately $210,000. Hedge funds and other institutional investors own 97.13% of the company’s stock.

About Autodesk

Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).

5 Day Chart for NASDAQ:ADSK

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