ValuEngine Upgrades Autodesk (NASDAQ:ADSK) to “Buy”

ValuEngine upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report released on Monday, April 2nd.

Other research analysts have also recently issued research reports about the stock. Evercore ISI reissued a buy rating and set a $135.00 target price on shares of Autodesk in a report on Wednesday, December 6th. Oppenheimer started coverage on shares of Autodesk in a report on Thursday, December 21st. They set a buy rating and a $135.00 target price for the company. CIBC started coverage on shares of Autodesk in a report on Friday, December 22nd. They issued an outperform rating and a $135.00 price objective for the company. BidaskClub cut shares of Autodesk from a buy rating to a hold rating in a report on Friday, December 22nd. Finally, KeyCorp reaffirmed a buy rating and issued a $134.00 price objective on shares of Autodesk in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $144.00.

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ADSK stock traded up $2.86 during trading on Monday, hitting $132.58. 1,590,652 shares of the company’s stock traded hands, compared to its average volume of 2,439,613. The firm has a market cap of $28,201.41, a price-to-earnings ratio of -81.08 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of -6.20. Autodesk has a 1 year low of $85.08 and a 1 year high of $141.26.



Autodesk (NASDAQ:ADSK) last announced its earnings results on Tuesday, March 6th. The software company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Autodesk had a negative net margin of 27.57% and a negative return on equity of 206.64%. The company had revenue of $554.00 million during the quarter, compared to the consensus estimate of $544.74 million. During the same period last year, the firm earned ($0.28) earnings per share. Autodesk’s revenue was up 15.7% compared to the same quarter last year. analysts anticipate that Autodesk will post -0.03 EPS for the current fiscal year.

In other news, Director Crawford W. Beveridge sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $133.11, for a total value of $199,665.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul D. Underwood sold 2,089 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $139.21, for a total transaction of $290,809.69. The disclosure for this sale can be found here. Insiders sold a total of 48,475 shares of company stock worth $6,094,232 over the last quarter. 6.10% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Lodge Hill Capital LLC acquired a new position in shares of Autodesk in the 3rd quarter worth approximately $26,381,000. Sit Investment Associates Inc. increased its stake in Autodesk by 24.2% during the 4th quarter. Sit Investment Associates Inc. now owns 45,104 shares of the software company’s stock worth $4,728,000 after buying an additional 8,780 shares during the period. Personal Capital Advisors Corp purchased a new stake in Autodesk during the 4th quarter worth approximately $1,833,000. Lazard Asset Management LLC increased its stake in Autodesk by 21.9% during the 4th quarter. Lazard Asset Management LLC now owns 498,200 shares of the software company’s stock worth $52,226,000 after buying an additional 89,500 shares during the period. Finally, Pacific Grove Capital LP increased its stake in Autodesk by 19.7% during the 4th quarter. Pacific Grove Capital LP now owns 61,910 shares of the software company’s stock worth $6,490,000 after buying an additional 10,191 shares during the period. Hedge funds and other institutional investors own 96.34% of the company’s stock.

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About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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