Zacks Investment Research upgraded shares of Autodesk (NASDAQ:ADSK) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Autodesk reported encouraging fourth-quarter fiscal 2018 results, driven by strong growth in product and growing maintenance to subscription program. The company’s business model transition along with robust portfolio of offering and strong cash position will fuel long term growth. Autodesk is also benefiting from its investment in digital infrastructure like e-store and EBA programs. We note that the company has outperformed the industry in the past year. However, the sluggish cloud business is a concern in the near term. The company’s top-line will also continue to be impacted by the business model transition to “ratably” as against realized “upfront” earlier on. Additionally, the company’s restructuring programs remain a drag on margins.”
Several other brokerages have also recently commented on ADSK. Wells Fargo raised their target price on Autodesk from $150.00 to $200.00 and gave the stock an outperform rating in a research report on Wednesday, March 7th. Robert W. Baird reaffirmed a buy rating and issued a $135.00 target price on shares of Autodesk in a research report on Wednesday, March 7th. Barclays raised their target price on Autodesk from $135.00 to $140.00 and gave the stock an overweight rating in a research report on Wednesday, March 7th. CIBC reaffirmed an outperform rating and issued a $145.00 target price (up previously from $135.00) on shares of Autodesk in a research report on Wednesday, March 7th. Finally, Oppenheimer raised their target price on Autodesk from $135.00 to $145.00 and gave the stock an outperform rating in a research report on Wednesday, March 7th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $140.48.
Shares of Autodesk (ADSK) opened at $131.41 on Tuesday. The company has a market capitalization of $29,854.96, a price-to-earnings ratio of -50.74 and a beta of 1.82. The company has a quick ratio of 1.07, a current ratio of 0.88 and a debt-to-equity ratio of -6.20. Autodesk has a 12-month low of $82.70 and a 12-month high of $141.26.
Autodesk (NASDAQ:ADSK) last issued its earnings results on Tuesday, March 6th. The software company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The business had revenue of $554.00 million during the quarter, compared to analysts’ expectations of $544.74 million. Autodesk had a negative return on equity of 206.64% and a negative net margin of 27.57%. Autodesk’s revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) earnings per share. research analysts expect that Autodesk will post -0.03 EPS for the current year.
In other Autodesk news, VP Paul D. Underwood sold 572 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $136.33, for a total transaction of $77,980.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lorrie M. Norrington sold 6,005 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $104.40, for a total value of $626,922.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,171 shares of company stock valued at $1,822,299. Insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerebellum GP LLC bought a new position in Autodesk during the fourth quarter valued at about $116,000. Delek Group Ltd. bought a new position in Autodesk during the fourth quarter valued at about $132,000. Exane Derivatives bought a new position in Autodesk during the fourth quarter valued at about $199,000. Virtue Capital Management LLC bought a new position in Autodesk during the fourth quarter valued at about $201,000. Finally, Chilton Investment Co. LLC bought a new position in Autodesk during the fourth quarter valued at about $210,000. Institutional investors own 95.14% of the company’s stock.
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Autodesk Company Profile
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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