Autodesk (ADSK) is Downgraded by Rosenblatt to Sell, Price Target at $54

Autodesk (ADSK) was Downgraded by Rosenblatt to ” Sell” and the brokerage firm has set the Price Target at $54. Earlier the firm had a rating of “Neutral ” on the company shares. Rosenblatt advised their investors in a research report released on Aug 30, 2016.

Many Wall Street Analysts have commented on Autodesk. 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 closed down -0.55 points or -0.80% at $68.32 with 31,27,566 shares getting traded on Monday. Post opening the session at $68.5, the shares hit an intraday low of $67.86 and an intraday high of $68.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 29, 2016, Steven M Blum (SVP, Worldwide Sales) sold 10,000 shares at $66.00 per share price. According to the SEC, on Aug 16, 2016, Fronzo Pascal W Di (SVP, General Counsel) sold 10,583 shares at $62.99 per share price. On Aug 16, 2016, Amarpreet Hanspal (SVP, Autodesk Product Group) sold 19,015 shares at $62.50 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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