Robert W. Baird Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Autodesk (NASDAQ:ADSK) had its price target raised by Robert W. Baird from $312.00 to $325.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price target points to a potential upside of 29.47% from the stock’s current price.

A number of other brokerages have also weighed in on ADSK. Rothschild & Co Redburn lowered their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, June 1st. KeyCorp reiterated an “overweight” rating on shares of Autodesk in a research report on Wednesday. Loop Capital cut their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research report on Friday, May 29th. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $330.00 price target on shares of Autodesk in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.65.

Autodesk Trading Down 0.1%

ADSK stock opened at $251.02 on Friday. The business’s 50 day moving average is $218.61 and its 200-day moving average is $231.62. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. The firm has a market cap of $52.97 billion, a P/E ratio of 36.59, a P/E/G ratio of 1.54 and a beta of 1.29. Autodesk has a 1-year low of $185.50 and a 1-year high of $329.09.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities analysts anticipate that Autodesk will post 9.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Janesh Moorjani acquired 2,500 shares of the stock in a transaction dated Monday, June 15th. The shares were bought at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares of the company’s stock, valued at approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average price of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 7,935 shares of company stock worth $1,666,644. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. CENTRAL TRUST Co lifted its position in Autodesk by 6.2% in the fourth quarter. CENTRAL TRUST Co now owns 759 shares of the software company’s stock worth $225,000 after purchasing an additional 44 shares during the period. Smithfield Trust Co boosted its stake in Autodesk by 5.3% during the fourth quarter. Smithfield Trust Co now owns 893 shares of the software company’s stock valued at $266,000 after buying an additional 45 shares in the last quarter. Calydon Capital grew its holdings in Autodesk by 1.7% during the fourth quarter. Calydon Capital now owns 2,726 shares of the software company’s stock worth $807,000 after acquiring an additional 45 shares during the period. Archer Investment Corp lifted its holdings in Autodesk by 112.2% in the 4th quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Autodesk by 5.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,029 shares of the software company’s stock worth $327,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.