Autodesk (NASDAQ:ADSK) Price Target Raised to $370.00 at UBS Group

Autodesk (NASDAQ:ADSK) had its price target boosted by equities research analysts at UBS Group from $350.00 to $370.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. UBS Group’s target price would suggest a potential upside of 37.19% from the company’s previous close.

Several other analysts have also weighed in on the stock. Robert W. Baird lowered their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America upped their price target on Autodesk from $325.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. KeyCorp raised their price objective on Autodesk from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho raised Autodesk from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. Finally, Barclays boosted their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $334.41.

Autodesk Trading Down 4.5 %

Shares of ADSK traded down $12.66 during mid-day trading on Friday, reaching $269.69. 2,836,867 shares of the company were exchanged, compared to its average volume of 1,470,868. The business has a 50 day simple moving average of $297.11 and a two-hundred day simple moving average of $286.59. Autodesk has a 52 week low of $195.32 and a 52 week high of $326.62. The stock has a market capitalization of $57.98 billion, a PE ratio of 53.51, a PEG ratio of 2.94 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 (NASDAQ:ADSK) last posted its quarterly earnings data 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 firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.33 EPS. On average, analysts predict that Autodesk will post 5.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Autodesk by 406.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank purchased a new position in shares of Autodesk in the 4th quarter valued at approximately $632,566,000. Starboard Value LP bought a new stake in shares of Autodesk during the third quarter valued at approximately $510,189,000. Farallon Capital Management LLC purchased a new position in Autodesk during the fourth quarter valued at $544,381,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after purchasing an additional 670,699 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors.

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.