Autodesk (NASDAQ:ADSK) Raised to “Outperform” at Mizuho

Autodesk (NASDAQ:ADSK) was upgraded by analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report released on Tuesday,Finviz reports. The firm currently has a $400.00 price objective on the software company’s stock, up from their previous price objective of $280.00. Mizuho’s target price would suggest a potential upside of 33.75% from the company’s previous close.

A number of other research firms have also recently weighed in on ADSK. Hsbc Global Res cut shares of Autodesk from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Rosenblatt Securities boosted their price target on shares of Autodesk from $295.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $357.00 in a report on Wednesday, January 8th. Stifel Nicolaus lifted their price target on shares of Autodesk from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Citigroup upped their target price on Autodesk from $358.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $331.50.

Autodesk Price Performance

Shares of NASDAQ ADSK opened at $299.07 on Tuesday. The firm has a 50-day simple moving average of $299.42 and a 200-day simple moving average of $277.61. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $64.30 billion, a price-to-earnings ratio of 59.34, a price-to-earnings-growth ratio of 3.55 and a beta of 1.42. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 earnings per share. On average, equities analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Insider Activity

In other Autodesk news, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $305.06, for a total value of $167,783.00. Following the transaction, the director now owns 30,249 shares in the company, valued at $9,227,759.94. The trade was a 1.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in Autodesk by 3.0% during the 3rd quarter. State Street Corp now owns 9,808,476 shares of the software company’s stock worth $2,702,028,000 after purchasing an additional 288,931 shares during the last quarter. FMR LLC boosted its stake in Autodesk by 0.8% during the 3rd quarter. FMR LLC now owns 5,653,602 shares of the software company’s stock valued at $1,557,454,000 after acquiring an additional 46,069 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Autodesk by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,385,987 shares of the software company’s stock worth $657,292,000 after acquiring an additional 61,785 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Autodesk by 12.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,192,345 shares of the software company’s stock valued at $603,947,000 after purchasing an additional 245,816 shares in the last quarter. Finally, Starboard Value LP acquired a new position in Autodesk in the third quarter worth about $510,189,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.