SMBC Nikko Initiates a Hold Rating on Autodesk (ADSK)

SMBC Nikko analyst SMBC Nikko initiated coverage with a Hold rating on Autodesk (ADSK) yesterday and set a price target of $282.00. The company’s shares closed last Tuesday at $252.71, close to its 52-week high of $276.68.

Currently, the analyst consensus on Autodesk is a Strong Buy with an average price target of $272.00.

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The company has a one-year high of $276.68 and a one-year low of $125.38. Currently, Autodesk has an average volume of 1.46M.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADSK in relation to earlier this year.

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Autodesk, Inc. engages in the design of software and services. Its products include Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit. The firm also offers development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production. The company was founded by John Walker in April 1982 and is headquartered in San Rafael, CA.

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