Autodesk, Inc. (NASDAQ:ADSK) has reserved a top momentum style rating from Zacks Research. The software company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.18.
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ADSK also updated its guidance in its recent earnings report. JPMorgan Chase & Co. reissued a “buy” rating on shares of Autodesk in a report on Sunday, May 22nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Now the stock price is moving -3.16% off from the highest level of twelve months and +53.13% above from twelve months low. Bank of America Corp. reissued a “sell” rating on shares of Autodesk in a report on Sunday, May 22nd.
Cowen bumped the estimated target of Autodesk Inc. The stock has an average rating of Hold and an average price target of $65.53.
Autodesk, Inc. (NASDAQ:ADSK) stock is now trading at about $68.87 and lots of rating firms seem to have a target price set on the stock. The company’s market capitalization is $15.26 billion. Current stock price is in the upbeat territory taking into account of 20 days moving average with 4.33% and continued bullish run for 50 days moving average with 9.52%. Autodesk, Inc. (NASDAQ:ADSK) has a Return on Investment of -9.90%.
Wall Street brokerage analysts covering the company are projecting the stock to go to $63.181 on a short term basis.
According to the Latest Earnings results, Autodesk, Inc. reported Earnings Per Share (EPS) of $0.05 whereas, the Analyst were expecting an EPS of $-0.13/share. New model ARR was $371 million and surged 82 percent compared to the q2 previous year as reported, and 86 percent on a constant currency basis. Subscription revenues however increased about 1% from the year-ago quarter to $322 million. (NASDAQ:ADSK) posted earnings per share of $-0.1. And we think its stock price has almost unlimited room to run for early in-the-know investors! The shares were sold at an average price of $56.00, for a total transaction of $280,000.00. Also, CEO Carl Bass sold 10,463 shares of the company’s stock in a transaction on Monday, June 6th. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in the stock. Autodesk reported actual earnings last quarter of 0.05 which beats the -0.13 consensus estimate, a 138.50% surprise. The company has dropped -4.71% in past 3 months and in the last five trades has moved down -5.2%.
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Consequently, Barclays increased its price target to $75 from $70 on the stock this morning, saying Autodesk’s subscriber growth was impressive despite the tough quarter-over-quarter comparison. Creative Planning raised its stake in shares of Autodesk by 12.4% in the second quarter.
