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.