Autodesk (NASDAQ:ADSK) Given New $335.00 Price Target at KeyCorp

Autodesk (NASDAQ:ADSK) had its price target boosted by KeyCorp from $330.00 to $335.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the software company’s stock.

A number of other research analysts have also weighed in on ADSK. Morgan Stanley raised their price objective on shares of Autodesk from $375.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho raised shares of Autodesk from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $280.00 to $400.00 in a research note on Tuesday, January 28th. Citigroup dropped their price objective on shares of Autodesk from $361.00 to $339.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America raised their price objective on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their target price for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $334.86.

Autodesk Stock Down 2.9 %

Shares of NASDAQ ADSK opened at $274.23 on Friday. The firm has a market cap of $58.96 billion, a PE ratio of 54.41, a P/E/G ratio of 2.94 and a beta of 1.43. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company’s fifty day simple moving average is $296.63 and its 200 day simple moving average is $286.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76.

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

Hedge Funds Weigh In On Autodesk

A number of large investors have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Autodesk during the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC bought a new stake in Autodesk during the third quarter valued at approximately $28,000. Investment Management Corp VA ADV bought a new stake in Autodesk during the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC lifted its position in 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 stake in Autodesk during the fourth quarter valued at approximately $30,000. 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.