Home Analyst Ratings KeyBanc reiterates Autodesk Inc. at Overweight and assigns price target at...

KeyBanc reiterates Autodesk Inc. [ADSK] at Overweight and assigns price target at $345

KeyBanc maintained its Autodesk [ADSK] rating to the equivalent of Overweight but changed the price ‎target to $345, in a research note dated 2021-01-05. That figure represents around a 16.22% premium ‎from where the company’s shares closed on Monday. Other analysts also revised their coverage, with ‎Griffin Securities’s analysts reiterating the shares to “a Buy” rating in a research note to investors ‎issued in late November. Meanwhile, Oppenheimer had raised its rating on ADSK to “an Outperform” ‎from the earlier “Perform”, in a research note produced for clients July 09, 2020. In addition, there was ‎no change from Wells Fargo on May 28, 2020. The rater maintained ADSK to “an Overweight” but ‎assigned new target price of $240.

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Is Autodesk ‎Inc. [NASDAQ:ADSK] a Good Buy Right Now?

It should be noted that ADSK technical indicators ‎for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. ‎The average signal changed from 100% Buy in the last week and compares with 100% Buy in the past ‎month. Data from Autodesk Inc.’s Trend Spotter indicated that the signals were Weakest. The stock ‎current average is 1.18 million shares in the past 20 days and the short term average signal indicates a ‎‎100% Buy. In the last 50 days, the average trading volume was 1.36 million shares while the medium ‎term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-‎day average volume stands at 1.42 million shares.


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ADSK Price Performance

On Wall Street, ‎Autodesk Inc. [NASDAQ:ADSK] finished Monday’s session down -2.78% at $296.84. The stock went up ‎to $307.83 at the same session while its lowest single day price was $293.05. In the last five days, it saw ‎a fall of about -1.51%, Autodesk Inc. shares dropped by almost -2.78% since the beginning of the year. ‎However, the share price has dropped to as low as -3.38% below its one year high. On 01/04/21, the ‎company shares recorded $307.83, the highest single-day price it has got to in the last 52-weeks and a ‎‎52-week low was seen on 01/04/21, the same year at $293.05. The company’s shares have inclined by ‎‎60.50% in the past year. The 50-day SMA achieved is $270.51 while the 200-day SMA is $229.81. Volume ‎gained to 1.41 million from 0.94 million in the previous session.

Autodesk Inc. [ADSK] Valuation ‎Measures

Notably, Autodesk Inc. [ADSK] stock cannot be classified as a good candidate in the ‎listing of underestimated low-priced Software – Application companies to purchase soonest possible ‎with the prevailing 12-month PE ratio of 150.76. The measure means the stock is exchanging at a ‎premium as compared to the 32.69x trailing earnings of the industry. It can be helpful for investors to ‎consider historical price-sales ratio, more specifically, a 17.53 PS value ratio is reported for the last one ‎year of reported earnings. That is higher than the industry average of 2.94 which means ADSK serve an ‎unattractive investment opportunity compared to its competitors.

ADSK Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is perceived around 290.65 level, ‎and in case of violation of this particular level, it will cause more drop to 284.46 level. On the upper ‎level, 314.02 is still the key resistance. The stock may increase to the subsequent resistance at 305.43. ‎The Relative Strength Index (RSI) pinned on the 14-day chart is 59.10, implying a neutral technical ‎stance while the MACD stands at 2.24, meaning price will increase in the next trading period. Percent R ‎indicator moved to 39.56%, implying low price movement. Stochastic %K at 82.88% suggest selling the ‎stock.

What is the short interest in Autodesk Inc.?

Short interest in the Autodesk Inc. stock ‎has plunged, decreasing by 70000.0 shares to total 2.44 million shares on Dec 14, 2020. The interest had ‎seen shares on Nov 12, 2020 stand at 2.37 million, data from Yahoo Finance shows. The increase of ‎‎2.87% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ‎ratio) moved to while the shorted shares account for just 1.11% of the overall float for the ‎stock.

Autodesk Inc.’s Biggest Shareholders: Who Owns Autodesk Inc. [ADSK]?

Filings by The ‎Vanguard Group, Inc. showed that the firm now holds a total of 16,787,720 shares or roughly 7.66% of ‎the outstanding ADSK shares. This means their shares have reduced by -206,110 from the 16,787,720 ‎the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund ‎Advisors updated stake is worth $3,031,068,843. Details in the latest 13F filings reveal that Capital ‎Research & Management Co disposed off their -25.30% stake valued at $3,027,874,221 while Loomis, ‎Sayles & Co. LP cut theirs at $2,940,396,223. During the last quarter, Capital Research & Management ‎Co liquidated -3,659,216 of its shares in Autodesk Inc. while Loomis, Sayles & Co. LP sold -158,045 ‎shares. The SSgA Funds Management, Inc.’s holdings currently number 8,737,939 shares at ‎‎$2593769812.76. According to the firm’s last 13F report, Capital Research & Management Co shares in ‎the company at filing stood at 7,974,079 shares, roughly $2,234,576,158.

ADSK Earnings Forecast ‎For The Current Quarter

Autodesk Inc. [ADSK] is expected to report strong earnings results for ‎the quarter ending on Jan 2021. Consensus estimates give the company expected revenues of $1.01B ‎and an earnings per share of $1.07 for Jan 2021. Looking further ahead, the company is expected to ‎report revenue of $999.15M at an EPS of $1.11 for Apr 2021. The estimates represent upside of 14.30% ‎and 30.99% in the company’s revenue and earnings per share, respectively, on a year-on-year ‎basis.

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ADSK Earnings Estimates For The Current ‎Year

For the financial year, Autodesk Inc. [NASDAQ:ADSK] is expected to bring in revenue of ‎‎$3.76B. The returns are nearly $490.0 million higher than the company’s actual revenue recorded in the ‎fiscal year 2020. In terms of EPS for the 2021, estimate put it at 3.95, higher than that of FY20 by $1.16. ‎Estimates put this year’s earnings growth at 41.60%, 30.90% for the next, and at an annual 34.91% over ‎the next 5-year period. As for sales, forecasts are for an increase of 14.90% in the current fiscal year ‎and a further 14.30% over the following year.‎

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