Autodesk (ADSK) Price Target Increased to $180.00 by Analysts at Deutsche Bank

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Autodesk (NASDAQ:ADSK) had its target price increased by equities researchers at Deutsche Bank to $180.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the software company’s stock. Deutsche Bank’s price target points to a potential upside of 12.64% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley downgraded shares of Autodesk from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, January 15th. Atlantic Securities started coverage on shares of Autodesk in a research note on Wednesday, January 9th. They issued an “overweight” rating and a $180.00 price target on the stock. Wedbush dropped their price target on shares of Autodesk from $146.00 to $131.00 and set a “positive” rating on the stock in a research note on Thursday, December 27th. Argus raised shares of Autodesk from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research note on Friday, November 23rd. Finally, BidaskClub downgraded shares of Autodesk from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $159.70.

Shares of NASDAQ:ADSK opened at $159.80 on Thursday. Autodesk has a 12-month low of $111.05 and a 12-month high of $161.51. The firm has a market cap of $35.19 billion, a price-to-earnings ratio of -99.88, a PEG ratio of 2.01 and a beta of 1.88.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 20th. The software company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.02. The company had revenue of $661.00 million during the quarter, compared to analyst estimates of $641.07 million. During the same period last year, the company posted ($0.12) earnings per share. The company’s revenue was up 28.3% compared to the same quarter last year. Equities research analysts anticipate that Autodesk will post 0.09 earnings per share for the current year.

In related news, SVP Fronzo Pascal W. Di sold 6,650 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $160.00, for a total value of $1,064,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $136.36, for a total transaction of $136,360.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Large investors have recently modified their holdings of the stock. L & S Advisors Inc boosted its holdings in Autodesk by 1.3% during the fourth quarter. L & S Advisors Inc now owns 5,577 shares of the software company’s stock valued at $717,000 after acquiring an additional 70 shares during the period. Commonwealth Bank of Australia boosted its holdings in Autodesk by 3.5% during the fourth quarter. Commonwealth Bank of Australia now owns 2,148 shares of the software company’s stock valued at $274,000 after acquiring an additional 72 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Autodesk by 4.6% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,830 shares of the software company’s stock valued at $235,000 after acquiring an additional 81 shares during the period. Mosaic Family Wealth LLC boosted its holdings in Autodesk by 27.7% during the fourth quarter. Mosaic Family Wealth LLC now owns 373 shares of the software company’s stock valued at $48,000 after acquiring an additional 81 shares during the period. Finally, Alpha Windward LLC boosted its holdings in Autodesk by 11.5% during the fourth quarter. Alpha Windward LLC now owns 792 shares of the software company’s stock valued at $102,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 94.83% 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; 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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Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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