Autodesk (ADSK) is Initiated by Wedbush to Neutral, Price Target at $60

Autodesk (ADSK) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $60. Wedbush advised their investors in a research report released on Sep 9, 2016.

Many Wall Street Analysts have commented on Autodesk. Rosenblatt Downgraded Autodesk on Aug 30, 2016 to ” Sell”, Price Target of the shares are set at $54.Company shares were Reiterated by RBC Capital Mkts on Aug 19, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .

On the company’s financial health, Autodesk reported $-0.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 19, 2016. Analyst had a consensus of $-0.14. The company had revenue of $511.90 million for the quarter, compared to analysts expectations of $513.00 million. The company’s revenue was down -20.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.30 EPS.

Autodesk opened for trading at $67.58 and hit $68.76 on the upside on Wednesday, eventually ending the session at $68.6, with a gain of 1.34% or 0.91 points. The heightened volatility saw the trading volume jump to 1,956,620 shares. Company has a market cap of $15,222 M.

In a different news, on Sep 8, 2016, Crawford W Beveridge (director) sold 7,000 shares at $67.58 per share price. According to the SEC, on Aug 31, 2016, Betsy Rafael (director) sold 4,416 shares at $67.80 per share price. On Aug 29, 2016, Steven M Blum (SVP, Worldwide Sales) sold 10,000 shares at $66.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Autodesk Inc. (Autodesk) is a design software and services company offering customers productive business solutions through technology products and services. The Company serves customers in the architecture engineering and construction; manufacturing and digital media consumer and entertainment industries. The Company operates in four segments: Architecture Engineering and Construction (AEC) Platform Solutions and Emerging Business (PSEB) Manufacturing (MFG) and Media and Entertainment (M&E). The PSEB AEC and MFG segments offer a range of services including consulting support and training. The M&E segment offers software products to creative professionals post-production facilities and broadcasters for a variety of applications including feature films television programs commercials music and corporate videos interactive game production Web design and interactive Web streaming.


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