Morgan Stanley Cuts Autodesk (NASDAQ:ADSK) Price Target to $350.00

Autodesk (NASDAQ:ADSK) had its price target reduced by Morgan Stanley from $385.00 to $350.00 in a research report report published on Monday, Marketbeat reports. They currently have an overweight rating on the software company’s stock.

Several other brokerages also recently weighed in on ADSK. Weiss Ratings restated a “hold (c+)” rating on shares of Autodesk in a research note on Wednesday, January 21st. UBS Group cut their target price on Autodesk from $400.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America lifted their price target on Autodesk from $360.00 to $365.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Rosenblatt Securities reissued a “buy” rating and issued a $355.00 price objective on shares of Autodesk in a report on Monday, November 24th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a report on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $347.89.

Autodesk Stock Performance

ADSK stock opened at $224.86 on Monday. Autodesk has a one year low of $215.01 and a one year high of $329.09. The firm has a 50-day simple moving average of $263.43 and a two-hundred day simple moving average of $290.54. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $47.67 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.54 and a beta of 1.45.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Tuesday, November 25th. The software company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.17. Autodesk had a net margin of 16.09% and a return on equity of 52.06%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company earned $2.17 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts forecast that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADSK. Vanguard Group Inc. increased its position in shares of Autodesk by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after buying an additional 78,928 shares in the last quarter. State Street Corp increased its holdings in Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock worth $3,006,818,000 after acquiring an additional 70,053 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Autodesk by 1.5% during the second quarter. Loomis Sayles & Co. L P now owns 5,831,447 shares of the software company’s stock worth $1,805,241,000 after acquiring an additional 88,066 shares during the period. Geode Capital Management LLC raised its position in shares of Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after purchasing an additional 123,691 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Autodesk by 18.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,544,520 shares of the software company’s stock worth $1,125,988,000 after buying an additional 564,136 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.