Autodesk (NASDAQ:ADSK) Price Target Raised to $325.00

Autodesk (NASDAQ:ADSK) had its target price raised by Robert W. Baird from $312.00 to $325.00 in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Robert W. Baird currently has an outperform rating on the software company’s stock.

A number of other analysts have also recently commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. BMO Capital Markets reduced their target price on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a report on Friday, May 29th. Weiss Ratings cut Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Wells Fargo & Company lowered their price target on Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Finally, Jefferies Financial Group raised Autodesk to a “strong-buy” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $321.65.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $253.82 on Friday. The firm’s 50 day simple moving average is $219.71 and its 200 day simple moving average is $231.61. Autodesk has a fifty-two week low of $185.50 and a fifty-two week high of $329.09. The company has a market capitalization of $53.56 billion, a price-to-earnings ratio of 37.00, a P/E/G ratio of 1.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. As a group, sell-side analysts forecast that Autodesk will post 9.7 earnings per share for the current year.

Insider Activity

In other Autodesk news, EVP Janesh Moorjani acquired 2,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were acquired at an average price of $197.67 per share, with a total value of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. The trade was a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 7,935 shares of company stock worth $1,666,644 over the last ninety days. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Large investors have recently modified their holdings of the business. Saudi Central Bank grew its holdings in shares of Autodesk by 88.8% in the 2nd quarter. Saudi Central Bank now owns 14,770 shares of the software company’s stock valued at $2,872,000 after acquiring an additional 6,945 shares in the last quarter. AlphaGrep UK Ltd bought a new stake in Autodesk during the second quarter worth about $515,000. Munich Reinsurance Co Stock Corp in Munich boosted its position in Autodesk by 14.1% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 38,397 shares of the software company’s stock valued at $7,465,000 after purchasing an additional 4,742 shares during the last quarter. Raiffeisen Bank International AG grew its stake in Autodesk by 1.3% in the second quarter. Raiffeisen Bank International AG now owns 92,959 shares of the software company’s stock valued at $18,149,000 after purchasing an additional 1,211 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Autodesk by 34.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,648 shares of the software company’s stock worth $340,000 after purchasing an additional 419 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Company Profile

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.