Autodesk (NASDAQ:ADSK) Given New $370.00 Price Target at UBS Group

Autodesk (NASDAQ:ADSK) had its target price boosted by research analysts at UBS Group from $350.00 to $370.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software company’s stock. UBS Group’s price objective points to a potential upside of 37.19% from the company’s previous close.

Several other brokerages have also recently issued reports on ADSK. Robert W. Baird decreased their target price on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research report on Friday. DA Davidson upped their price objective on Autodesk from $275.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday. Hsbc Global Res cut Autodesk from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays increased their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Autodesk presently has an average rating of “Moderate Buy” and an average price target of $334.41.

Autodesk Price Performance

ADSK stock traded down $12.66 during mid-day trading on Friday, hitting $269.69. The company had a trading volume of 2,836,867 shares, compared to its average volume of 1,470,868. The company has a market capitalization of $57.98 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 2.94 and a beta of 1.43. The company has a 50-day moving average price of $297.11 and a 200 day moving average price of $286.59. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.05. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. On average, research analysts anticipate that Autodesk will post 5.76 earnings per share for the current year.

Hedge Funds Weigh In On Autodesk

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jag Capital Management LLC purchased a new position in Autodesk in the 3rd quarter valued at $13,861,000. LMR Partners LLP acquired a new stake in Autodesk in the 3rd quarter valued at about $12,643,000. Starboard Value LP acquired a new stake in Autodesk during the third quarter worth about $510,189,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Autodesk by 196.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,099 shares of the software company’s stock worth $2,394,000 after purchasing an additional 5,365 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in shares of Autodesk by 1,058.9% during the fourth quarter. Brookstone Capital Management now owns 29,296 shares of the software company’s stock worth $8,659,000 after buying an additional 26,768 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.