Morgan Stanley Raises Autodesk Price Target: Positive Outlook for ADSK Stock

Autodesk (NASDAQ:ADSK) has received a positive rating from Morgan Stanley, which has increased its price target for the company's shares from $375.00 to $385.00. This adjustment was made public in a research report issued on Friday. The new price target implies a potential upside of 36.36% based on Autodesk's current share price. Morgan Stanley has given Autodesk an "overweight" rating, indicating their belief that the stock will perform better than the market average.

Several other analysts have expressed similar positive sentiments regarding Autodesk's stock. For instance, on November 22, Wells Fargo & Company raised its price target from $340.00 to $350.00 and maintained an "overweight" rating. Likewise, KeyCorp increased its price target from $325.00 to $330.00, also providing an "overweight" rating in their report on November 20. On the other hand, Citigroup adjusted its forecast, lowering its price target from $361.00 to $339.00 while still maintaining a "buy" rating. Furthermore, UBS Group initiated coverage, giving a "buy" rating with a target of $350.00, while Scotiabank offered a "sector outperform" rating with a price target set at $360.00. Overall, a consensus of eight analysts have rated Autodesk with a hold, while sixteen have given it a buy rating, leading to an average rating of "Moderate Buy" and a target price of approximately $333.91.

Autodesk Stock Performance Overview

As of Friday, Autodesk's shares opened at $282.35. The company holds a current ratio of 0.65, a quick ratio of 0.65, and a debt-to-equity ratio of 0.76. Over the last twelve months, Autodesk's stock has been volatile, achieving a low of $195.32 and a high of $326.62. The company's market capitalization stands at $60.71 billion, with a price-to-earnings ratio of 56.02 and a price-to-earnings-growth ratio of 2.94. Recent indicators show a 50-day simple moving average of $297.11 and a 200-day simple moving average of $286.59.

In its latest earnings report released on November 26, Autodesk reported earnings per share (EPS) of $2.17 for the quarter, which exceeded the analysts' expectations of $2.12 by $0.05. The company demonstrated a solid return on equity of 53.87% and maintained a net margin of 18.30%. Revenue for the quarter reached $1.57 billion, slightly above the consensus estimate of $1.56 billion. Year-on-year, Autodesk's revenue reflects an 11.0% increase compared to the same period last year, with an anticipated earnings per share of 5.76 for the current year according to analysts' predictions.

Recent Institutional Trading in Autodesk Stock

In recent market movements, various institutional investors have made adjustments to their positions in Autodesk. Golden State Wealth Management LLC acquired a new position valued around $25,000 in the fourth quarter, while Transcendent Capital Group LLC invested approximately $28,000 in the third quarter. Investment Management Corporation of Virginia also expanded its holdings during the fourth quarter. Tradewinds Capital Management LLC doubled its position, now owning 100 shares of Autodesk after acquiring an additional 50 shares in the last quarter, valued at around $30,000. Mizuho Securities Co. Ltd. has similarly made a new investment in Autodesk worth about $30,000. Currently, institutional investors control approximately 90.24% of the company's shares.

About Autodesk Inc.

Autodesk, Inc. is a leading provider of 3D design, engineering, and entertainment technology solutions on a global scale. The company offers a diverse range of software products, including AutoCAD for professional design and drafting, AutoCAD LT for drafting and detailing, and Fusion 360, which encompasses 3D CAD, CAM, and computer-aided engineering tools. Their offerings cater to various industries including architecture, engineering and construction, as well as product design and manufacturing.

Conclusion

With numerous analysts expressing positive outlooks and raising their target prices, Autodesk appears to be a favorable consideration for investors. The consistent earnings growth and strong market position further support this optimistic perspective on the company's stock.

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