Autodesk (NASDAQ:ADSK) Upgraded by Mizuho to Outperform Rating

Mizuho upgraded shares of Autodesk (NASDAQ:ADSK) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have $400.00 target price on the software company’s stock, up from their prior target price of $280.00.

ADSK has been the subject of several other reports. BMO Capital Markets upped their target price on Autodesk from $287.00 to $308.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 27th. Piper Sandler raised shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $357.00 in a report on Wednesday, January 8th. Barclays raised their price target on shares of Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group initiated coverage on Autodesk in a research note on Monday, December 2nd. They set a “buy” rating and a $350.00 price objective for the company. Finally, Morgan Stanley raised their target price on Autodesk from $320.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $331.50.

Autodesk Stock Up 1.9 %

ADSK stock opened at $309.95 on Tuesday. Autodesk has a one year low of $195.32 and a one year high of $326.62. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.65 and a current ratio of 0.65. The firm’s fifty day moving average is $299.38 and its 200 day moving average is $278.54. The firm has a market cap of $66.64 billion, a PE ratio of 61.50, a P/E/G ratio of 3.55 and a beta of 1.42.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Autodesk had a return on equity of 53.87% and a net margin of 18.30%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. On average, research analysts forecast that Autodesk will post 5.76 EPS for the current year.

Insider Transactions at Autodesk

In other news, Director Mary T. Mcdowell sold 550 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $305.06, for a total transaction of $167,783.00. Following the completion of the transaction, the director now directly owns 30,249 shares in the company, valued at approximately $9,227,759.94. This represents a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new stake in Autodesk in the third quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new position in Autodesk during the third quarter worth $28,000. Concord Wealth Partners purchased a new position in shares of Autodesk during the third quarter worth $28,000. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.