Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reissued by equities research analysts at Evercore ISI in a research note issued to investors on Wednesday. They presently have a $150.00 price objective on the software company’s stock. Evercore ISI’s target price suggests a potential upside of 11.44% from the company’s previous close.
The analysts wrote, “We believe this report should be viewed as neutral to positive for ADSK; while the overall ABI index ticked down m/m, recent readings indicate that architecture firm billings have now increased for 5 consecutive months, and 11 months of the last year. As a reminder, ADSK generates a sizable portion of its business from architecture firms with ~42% of revenue coming from its Architecture, Engineering, and Construction segment in FY18.””
A number of other research firms have also recently commented on ADSK. Wells Fargo raised their price objective on Autodesk from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, March 7th. Robert W. Baird reaffirmed a “buy” rating and set a $135.00 price objective on shares of Autodesk in a research note on Wednesday, March 7th. Barclays raised their price objective on Autodesk from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Autodesk from a “hold” rating to a “sell” rating in a research note on Tuesday, March 13th. Finally, CIBC reaffirmed an “outperform” rating and set a $145.00 price objective (up from $135.00) on shares of Autodesk in a research note on Wednesday, March 7th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $140.48.
Autodesk (NASDAQ:ADSK) last released its earnings results on Tuesday, March 6th. The software company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. The business had revenue of $554.00 million for the quarter, compared to analysts’ expectations of $544.74 million. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) earnings per share. analysts expect that Autodesk will post -0.03 EPS for the current fiscal year.
In other Autodesk news, VP Paul D. Underwood sold 572 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $136.33, for a total value of $77,980.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lorrie M. Norrington sold 6,005 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $104.40, for a total transaction of $626,922.00. The disclosure for this sale can be found here. Insiders sold 16,171 shares of company stock valued at $1,822,299 over the last 90 days. 6.10% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Capital Analysts LLC purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $358,000. Cerebellum GP LLC purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $116,000. Delek Group Ltd. purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $132,000. Exane Derivatives purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $199,000. Finally, Virtue Capital Management LLC purchased a new position in shares of Autodesk during the fourth quarter valued at approximately $201,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.
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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).
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