Autodesk (NASDAQ:ADSK) Given Outperform Rating at Macquarie

Macquarie reiterated their outperform rating on shares of Autodesk (NASDAQ:ADSK) in a research note published on Friday,Benzinga reports. The brokerage currently has a $360.00 price target on the software company’s stock.

A number of other brokerages also recently issued reports on ADSK. Oppenheimer raised their price target on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler upgraded shares of Autodesk from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. Robert W. Baird lowered their price objective on shares of Autodesk from $345.00 to $336.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley increased their price objective on shares of Autodesk from $375.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.86.

Autodesk Stock Performance

Shares of NASDAQ ADSK opened at $274.23 on Friday. The firm’s 50-day moving average price is $296.63 and its 200-day moving average price is $286.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.76. The company has a market cap of $58.96 billion, a PE ratio of 54.41, a PEG ratio of 2.94 and a beta of 1.43. Autodesk has a 52-week low of $195.32 and a 52-week high of $326.62.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share (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 the consensus estimate of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. As a group, analysts anticipate that Autodesk will post 5.76 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. Massachusetts Financial Services Co. MA boosted its stake in Autodesk by 406.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock worth $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter valued at $632,566,000. Starboard Value LP purchased a new stake in shares of Autodesk during the third quarter valued at $510,189,000. Farallon Capital Management LLC purchased a new stake in shares of Autodesk during the fourth quarter valued at $544,381,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Autodesk by 43.7% during the fourth quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after purchasing an additional 670,699 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.