Autodesk Stock Rating Reaffirmed by Zacks (ADSK)

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Autodesk (NASDAQ:ADSK)‘s stock had its “neutral” rating reiterated by Zacks in a report released on Monday. They currently have a $56.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 3.40% from the stock’s previous close.

Zacks’ analyst wrote, “Autodesk reported mixed first-quarter fiscal 2015 results. While revenues beat the Zacks Consensus Estimate, earnings were in-line with the same. The company provided an upbeat guidance for the second quarter of fiscal 2015. We believe that a sluggish macroeconomic environment, weakness in emerging markets, customer concentration and increasing competition are the major headwinds in 2015. Moreover, increasing investment in new products is expected to hurt margins in the near term. However, the company is witnessing improving demand environment in the AEC business segment has significant growth opportunities in this market going forward. Further, the business transition to cloud-based offerings will boost the company’s profitability in the long run. Thus, we remain Neutral and set a target price target of $56.00.”

A number of other analysts have also recently weighed in on ADSK. Analysts at Barclays upgraded shares of Autodesk from an “equal weight” rating to an “overweight” rating in a research note on Thursday, July 10th. They now have a $65.00 price target on the stock, up previously from $51.00. Separately, analysts at Robert W. Baird raised their price target on shares of Autodesk from $56.00 to $60.00 in a research note on Tuesday, July 1st. Finally, analysts at Cowen and Company raised their price target on shares of Autodesk from $52.00 to $58.00 in a research note on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $59.31.

Shares of Autodesk (NASDAQ:ADSK) opened at 54.15 on Monday. Autodesk has a 1-year low of $34.31 and a 1-year high of $58.68. The stock’s 50-day moving average is $55.72 and its 200-day moving average is $52.05. The company has a market cap of $12.339 billion and a P/E ratio of 61.60.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.11. The company had revenue of $593.00 million for the quarter, compared to the consensus estimate of $568.58 million. On average, analysts predict that Autodesk will post $1.18 earnings per share for the current fiscal year.

Autodesk, Inc (NASDAQ:ADSK) is a design software and services company, offering customers business solutions through technology products and services.

To view Zacks’ full report, visit Zacks’ official website.

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