San Rafael, Calif. -based Autodesk is in the midst of a business model transition, consequently, revenue is negatively impacted as more revenue is recognized ratably rather than up front and as new offerings generally have a lower initial purchase price, the company noted.
In order to reach an opinion and communicate the value and volatility of a covered security, analysts research public financial statements, listen in on conference calls and talk to managers and the customers of a company, typically in an attempt to capture the findings for a research report.
In a report issued on May 9, Wedbush also upgraded the stock to Buy with a $120 price target. Lateef Investment Management L.P., a California-based fund reported 1.28 million shares.#img1#. Robert W. Baird reaffirmed an "outperform" rating and set a $85.00 price target on shares of Autodesk in a research note on Wednesday, February 8th. Credit Suisse Group AG started coverage on Autodesk in a research note on Thursday, April 27th. They set a "neutral" rating for the company.
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The current consensus rating on Autodesk (NASDAQ:ADSK) is Buy (Score: 2.61) with a consensus target price of $98.67 per share, a potential 2.96% upside. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company's stock. Autodesk, Inc. (NASDAQ:ADSK) has risen 6.00% since April 19, 2017 and is uptrending. The company has a 50-day moving average price of $90.03 and a 200 day moving average price of $82.49.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. The business had revenue of $478.80 million during the quarter, compared to analyst estimates of $476.06 million.
Following a strong quarter and increased conviction in the model transition, RBC Capital Markets is upgrading shares to Outperform and raising its target to $125. In the year-earlier period, Autodesk earned 5 cents a share on sales of $551 million. Operating margin for the quarter stood at negative 24.62 percent as compared to a negative 29.24 percent for the previous year period. Equities research analysts predict that Autodesk will post ($0.60) EPS for the current fiscal year. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and global copyright and trademark laws. Autodesk now has an average rating of "Buy" and a consensus target price of $94.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Finally, Canaccord Genuity restated a buy rating and issued a $100.00 price objective (up previously from $95.00) on shares of Autodesk in a research note on Friday, March 3rd. The shares were sold at an average price of $86.00, for a total transaction of $476,440.00. Corporate insiders own 6.20% of the company's stock. (NASDAQ:ADSK) for 105,670 shares. The company forecasts diluted loss per share to be in the range of $2.61 to $2.35. Over the last three months, insiders have sold 132,067 shares of company stock valued at $11,323,341. LMR Partners LLP increased its position in Autodesk by 116.7% in the third quarter. State of Wisconsin Investment Board now owns 294,708 shares of the software company's stock worth $21,316,000 after buying an additional 174,200 shares during the period. Cypress Wealth Advisors LLC boosted its stake in shares of Autodesk by 0.5% in the fourth quarter. Finally, Elkfork Partners LLC boosted its stake in shares of Autodesk by 0.7% in the first quarter.
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