Autodesk (NASDAQ:ADSK) Price Target Cut to $339.00 by Analysts at Citigroup

Autodesk (NASDAQ:ADSK) had its target price trimmed by Citigroup from $361.00 to $339.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the software company’s stock.

Several other brokerages also recently commented on ADSK. UBS Group assumed coverage on shares of Autodesk in a report on Monday, December 2nd. They issued a “buy” rating and a $350.00 target price for the company. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and increased their target price for the company from $280.00 to $400.00 in a report on Tuesday, January 28th. Bank of America increased their target price on shares of Autodesk from $325.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 target price for the company. in a report on Friday, November 29th. Finally, Stifel Nicolaus increased their price target on shares of Autodesk from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $333.45.

Autodesk Stock Performance

ADSK opened at $282.35 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The company’s fifty day moving average price is $297.11 and its two-hundred day moving average price is $286.59. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a market cap of $60.71 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 2.94 and a beta of 1.43.

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

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brucke Financial Inc. bought a new position in shares of Autodesk in the fourth quarter valued at approximately $207,000. Jefferies Financial Group Inc. bought a new position in shares of Autodesk in the fourth quarter valued at approximately $2,121,000. Integrated Advisors Network LLC bought a new position in shares of Autodesk in the fourth quarter valued at approximately $203,000. Putney Financial Group LLC bought a new position in shares of Autodesk in the fourth quarter valued at approximately $61,000. Finally, AlphaCore Capital LLC boosted its position in shares of Autodesk by 19.0% in the fourth quarter. AlphaCore Capital LLC now owns 1,485 shares of the software company’s stock valued at $439,000 after acquiring an additional 237 shares during the period. 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.