Autodesk (ADSK) is Reiterated by Wedbush to Neutral, Raises Price Target to $ 55

Autodesk (ADSK) was Reiterated by Wedbush to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $50 . Wedbush advised their investors in a research report released on May 12, 2016.

Many Wall Street Analysts have commented on Autodesk. Shares were Reiterated by Barclays on Feb 22, 2016 to “Overweight” and Lowered the Price Target to $ 65 from a previous price target of $70 .

On the company’s financial health, Autodesk reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.11. The company had revenue of $648.30 million for the quarter, compared to analysts expectations of $634.70 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Autodesk opened for trading at $58.91 and hit $59.66 on the upside on Tuesday, eventually ending the session at $59.57, with a gain of 1.33% or 0.78 points. The heightened volatility saw the trading volume jump to 25,07,050 shares. Company has a market cap of $13,373 M.

In a different news, on May 3, 2016, Carl Bass (Chief Executive Officer) sold 15,000 shares at $60.40 per share price. According to the SEC, on Apr 25, 2016, Steven M Blum (SVP, Worldwide Sales) sold 15,000 shares at $60.00 per share price. On Apr 5, 2016, Paul D. Underwood (VP, PAO & Corporate Controller) sold 581 shares at $56.43 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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