Canaccord Genuity Increases Autodesk (ADSK) Price Target to $180.00

Autodesk (NASDAQ:ADSK) had its price target boosted by Canaccord Genuity from $165.00 to $180.00 in a report issued on Thursday, The Fly reports. Canaccord Genuity currently has a buy rating on the software company’s stock.

Other equities analysts have also issued reports about the stock. BidaskClub raised shares of Autodesk from a hold rating to a buy rating in a research report on Friday, July 6th. Deutsche Bank raised their price target on shares of Autodesk from $150.00 to $160.00 and gave the stock a buy rating in a research report on Monday, June 25th. Griffin Securities raised their price target on shares of Autodesk from $165.00 to $170.00 and gave the stock a buy rating in a research report on Friday, August 24th. Evercore ISI reissued a buy rating and set a $175.00 price target on shares of Autodesk in a research report on Wednesday, September 19th. Finally, Zacks Investment Research raised shares of Autodesk from a sell rating to a hold rating in a research report on Wednesday, August 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Autodesk presently has an average rating of Buy and an average price target of $163.74.

ADSK opened at $152.40 on Thursday. Autodesk has a 12-month low of $101.55 and a 12-month high of $159.94. The company has a debt-to-equity ratio of -6.57, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Autodesk had a negative net margin of 18.52% and a negative return on equity of 3,087.49%. The company had revenue of $612.00 million during the quarter, compared to analyst estimates of $600.36 million. During the same period last year, the firm posted ($0.11) EPS. Autodesk’s revenue for the quarter was up 21.9% compared to the same quarter last year. analysts forecast that Autodesk will post 0.06 EPS for the current fiscal year.

In related news, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $149.77, for a total value of $149,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lorrie M. Norrington sold 5,001 shares of Autodesk stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $156.75, for a total transaction of $783,906.75. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Alpha Windward LLC acquired a new stake in Autodesk in the 2nd quarter valued at $102,000. Institutional & Family Asset Management LLC acquired a new stake in Autodesk in the 1st quarter valued at $100,000. Smithfield Trust Co. acquired a new stake in Autodesk in the 2nd quarter valued at $116,000. IHT Wealth Management LLC boosted its stake in Autodesk by 1,142.2% during the 1st quarter. IHT Wealth Management LLC now owns 1,031 shares of the software company’s stock worth $127,000 after purchasing an additional 948 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in Autodesk by 58.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,331 shares of the software company’s stock worth $174,000 after purchasing an additional 489 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Autodesk Company Profile

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.

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