Rosenblatt Securities Reaffirms Buy Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a report issued on Monday,Benzinga reports. They presently have a $330.00 price target on the software company’s stock. Rosenblatt Securities’ target price points to a potential upside of 32.43% from the company’s previous close.

ADSK has been the topic of several other reports. Wolfe Research increased their target price on Autodesk from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. raised their price target on Autodesk from $319.00 to $336.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Royal Bank Of Canada dropped their price target on Autodesk from $335.00 to $305.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus dropped their price target on Autodesk from $375.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Arete Research dropped their price target on Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $327.21.

Autodesk Stock Up 7.7%

Shares of NASDAQ:ADSK traded up $17.88 during trading on Monday, hitting $249.19. The stock had a trading volume of 1,248,853 shares, compared to its average volume of 2,171,640. Autodesk has a 12 month low of $214.10 and a 12 month high of $329.09. The company has a market capitalization of $52.62 billion, a PE ratio of 36.28, a PEG ratio of 1.49 and a beta of 1.32. The firm’s fifty day moving average is $238.52 and its 200 day moving average is $260.14. The company has a quick ratio of 0.85, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Analysts anticipate that Autodesk will post 9.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares of the company’s stock, valued at approximately $6,129,934.89. This trade represents a 14.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Autodesk by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after purchasing an additional 78,928 shares in the last quarter. State Street Corp lifted its position in Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after purchasing an additional 70,053 shares in the last quarter. Geode Capital Management LLC lifted its position in Autodesk by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after purchasing an additional 123,691 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Autodesk by 5.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after purchasing an additional 155,255 shares in the last quarter. Finally, Norges Bank purchased a new position in Autodesk during the fourth quarter valued at $867,480,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.