KeyCorp Reaffirms “Buy” Rating for Autodesk (ADSK)
Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reaffirmed by equities research analysts at KeyCorp in a report released on Wednesday. They currently have a $134.00 target price on the software company’s stock. KeyCorp’s price target points to a potential upside of 18.58% from the stock’s previous close.
The analysts wrote, “We expect ADSK to guide closer to our estimates for FY19.””
Several other analysts have also weighed in on the company. Deutsche Bank set a $140.00 target price on Autodesk and gave the company a “buy” rating in a report on Wednesday, November 29th. Canaccord Genuity reissued a “buy” rating and issued a $140.00 target price (up previously from $125.00) on shares of Autodesk in a report on Thursday, November 16th. Royal Bank of Canada reissued a “buy” rating on shares of Autodesk in a report on Wednesday, November 15th. Guggenheim upped their target price on Autodesk from $110.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, UBS Group reissued a “buy” rating and issued a $140.00 target price on shares of Autodesk in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $132.68.
Autodesk (ADSK) traded up $1.02 during trading on Wednesday, reaching $113.00. The company’s stock had a trading volume of 2,800,691 shares, compared to its average volume of 2,290,000. The company has a debt-to-equity ratio of 14.78, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $24,890.00, a price-to-earnings ratio of -43.97 and a beta of 1.91. Autodesk has a 12 month low of $78.29 and a 12 month high of $131.10.
Autodesk (NASDAQ:ADSK) last posted its earnings results on Tuesday, November 28th. The software company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The company had revenue of $515.30 million for the quarter, compared to analyst estimates of $513.63 million. Autodesk had a negative return on equity of 93.60% and a negative net margin of 28.46%. Autodesk’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. equities research analysts anticipate that Autodesk will post -1.37 earnings per share for the current fiscal year.
In related news, Director Crawford W. Beveridge sold 1,500 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $106.29, for a total transaction of $159,435.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Fronzo Pascal W. Di sold 19,577 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $125.00, for a total value of $2,447,125.00. The disclosure for this sale can be found here. Insiders sold 38,825 shares of company stock worth $4,595,671 over the last 90 days. Company insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lodge Hill Capital LLC purchased a new position in Autodesk during the third quarter worth about $26,381,000. Advisor Group Inc. lifted its position in Autodesk by 17.7% during the second quarter. Advisor Group Inc. now owns 6,584 shares of the software company’s stock worth $664,000 after buying an additional 989 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its position in Autodesk by 0.9% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 815,218 shares of the software company’s stock worth $91,516,000 after buying an additional 7,265 shares during the period. Sciencast Management LP purchased a new position in Autodesk during the second quarter worth about $403,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Autodesk during the second quarter worth about $444,000. Hedge funds and other institutional investors own 95.33% of the company’s stock.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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