Morgan Stanley Boosts Autodesk (NASDAQ:ADSK) Price Target to $187.00

Share on StockTwits

Autodesk (NASDAQ:ADSK) had its target price upped by Morgan Stanley from $164.00 to $187.00 in a report released on Monday, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the software company’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of Autodesk from a neutral rating to an underweight rating and set a $175.00 price objective on the stock. in a research note on Thursday, December 12th. Wells Fargo & Co reiterated a buy rating on shares of Autodesk in a research note on Monday, December 9th. Oppenheimer increased their price objective on shares of Autodesk from $175.00 to $200.00 and gave the stock an outperform rating in a research note on Wednesday, November 27th. Royal Bank of Canada increased their price objective on shares of Autodesk from $189.00 to $205.00 and gave the stock an outperform rating in a research note on Monday. Finally, Canaccord Genuity increased their price objective on shares of Autodesk from $160.00 to $195.00 and gave the stock a buy rating in a research note on Wednesday, November 27th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Autodesk currently has a consensus rating of Hold and an average target price of $188.23.

ADSK opened at $192.06 on Monday. The firm has a market cap of $42.05 billion, a price-to-earnings ratio of 1,745.95, a price-to-earnings-growth ratio of 3.43 and a beta of 1.89. Autodesk has a fifty-two week low of $129.70 and a fifty-two week high of $193.42. The company’s 50-day moving average price is $183.47 and its 200 day moving average price is $161.49.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $842.70 million for the quarter, compared to analyst estimates of $823.95 million. Autodesk had a net margin of 4.74% and a negative return on equity of 113.06%. Autodesk’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. Equities analysts anticipate that Autodesk will post 1.47 EPS for the current year.

In other news, SVP Carmel Galvin sold 4,994 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $185.00, for a total value of $923,890.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Autodesk by 0.4% in the third quarter. State Street Corp now owns 8,656,573 shares of the software company’s stock valued at $1,278,576,000 after acquiring an additional 36,322 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Autodesk by 2.3% in the second quarter. Invesco Ltd. now owns 3,060,683 shares of the software company’s stock valued at $498,585,000 after acquiring an additional 67,647 shares in the last quarter. Findlay Park Partners LLP boosted its holdings in shares of Autodesk by 18.1% in the third quarter. Findlay Park Partners LLP now owns 2,346,803 shares of the software company’s stock valued at $346,623,000 after acquiring an additional 360,000 shares in the last quarter. Pictet Asset Management Ltd. boosted its holdings in shares of Autodesk by 13.7% in the third quarter. Pictet Asset Management Ltd. now owns 2,157,065 shares of the software company’s stock valued at $318,599,000 after acquiring an additional 259,695 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in shares of Autodesk by 489.9% in the second quarter. Nuveen Asset Management LLC now owns 1,152,889 shares of the software company’s stock valued at $187,805,000 after acquiring an additional 957,445 shares in the last quarter. Institutional investors and hedge funds own 95.00% of the company’s stock.

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; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based 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 software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.

Recommended Story: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

Receive News & Ratings for Autodesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Autodesk and related companies with MarketBeat.com's FREE daily email newsletter.