Robert W. Baird Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its target price lifted by equities researchers at Robert W. Baird from $330.00 to $345.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 16.69% from the company’s previous close.

ADSK has been the subject of several other reports. Wells Fargo & Company upped their price objective on Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised their price target on shares of Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. BMO Capital Markets increased their target price on shares of Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a report on Wednesday, November 27th. Finally, HSBC lowered shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a research note on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Autodesk Price Performance

ADSK opened at $295.66 on Wednesday. The company has a fifty day moving average price of $299.16 and a two-hundred day moving average price of $284.71. The firm has a market capitalization of $63.57 billion, a PE ratio of 58.66, a P/E/G ratio of 3.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. As a group, analysts anticipate that Autodesk will post 5.76 earnings per share for the current year.

Institutional Investors Weigh In On Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk in the 4th quarter worth about $25,000. Investment Management Corp VA ADV purchased a new position in shares of Autodesk in the fourth quarter worth $29,000. Transcendent Capital Group LLC purchased a new position in Autodesk in the 3rd quarter worth about $28,000. Tradewinds Capital Management LLC raised its holdings in shares of Autodesk by 100.0% during the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Autodesk during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.