Autodesk Inc. (NASDAQ: ADSK) Stock Coverage Initiated at Evercore ISI

Analysts at Evercore ISI initiated coverage on Autodesk Inc. (NASDAQ: ADSK) stock, starting the company at Buy. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $66.94, $65.76. Autodesk Inc.stock has a 52-week high of $69.21.After initiating coverage,, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.

Stocks closed in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.

The Dow Jones Industrial Average DJIA, -0.18% slid 31.98 points, or 0.2%, to close at 18,034.77

The S&P 500 index SPX, -0.06% fell 1.25 points to end at 2,125.77, weighed by a 1.2% drop in the energy sector.

The Nasdaq Composite Index COMP, +0.36% advanced 18.52 points, or 0.4%, to close at 5,173.77.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.

Shares of Autodesk Inc. (NASDAQ: ADSK) opened at $65.76 today and traded in a range between, $65.06 and $66.24, and last traded at $65.51, which represents a change of $ -0.27 over the previous closing price.

Autodesk Inc. (NASDAQ: ADSK) currently has a market cap of 14.54B

The stocks average daily volume is 1,754,200 shares out of a total float 195,243,000 of and some 1,843,715 shares crossed the trading desk yesterday, 94 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.

By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

With that in mind Autodesk Inc. (NASDAQ: ADSK) now has a 50-day MA is $63.38 and 200-day MA is $58.93, and it has traded in a 52-week range between $41.60 – 69.21 and today’s last price is -5.35 percent off the 52 week high.

Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of The Ledger Gazette. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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