Autodesk’s (ADSK) Buy Rating Reaffirmed at BTIG Research

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $300.00 target price on the software company’s stock. BTIG Research’s price target would indicate a potential upside of 37.21% from the stock’s current price.

A number of other research analysts also recently issued reports on ADSK. Citigroup raised their price target on Autodesk from $269.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 31st. The Goldman Sachs Group raised Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 price objective for the company in a report on Thursday. DA Davidson set a $325.00 target price on shares of Autodesk in a research report on Friday, August 28th. Rothschild & Co Redburn cut their target price on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Barclays reiterated an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $318.03.

Autodesk Stock Performance

Shares of ADSK opened at $218.64 on Friday. The stock has a 50 day moving average price of $233.22 and a 200 day moving average price of $231.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31. Autodesk has a 52-week low of $185.50 and a 52-week high of $326.71.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Research analysts predict that Autodesk will post 9.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Autodesk news, Director John Cahill acquired 2,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the acquisition, the director owned 4,000 shares of the company’s stock, valued at $756,800. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently modified their holdings of the business. Smithfield Trust Co lifted its holdings in shares of Autodesk by 5.3% during the 4th quarter. Smithfield Trust Co now owns 893 shares of the software company’s stock worth $266,000 after acquiring an additional 45 shares during the period. First Horizon Corp grew its holdings in Autodesk by 11.7% in the first quarter. First Horizon Corp now owns 514 shares of the software company’s stock valued at $123,000 after purchasing an additional 54 shares during the period. Gulf International Bank UK Ltd grew its holdings in Autodesk by 0.5% in the fourth quarter. Gulf International Bank UK Ltd now owns 10,837 shares of the software company’s stock valued at $3,208,000 after purchasing an additional 56 shares during the period. Ellevest Inc. increased its position in Autodesk by 5.9% during the fourth quarter. Ellevest Inc. now owns 1,001 shares of the software company’s stock worth $296,000 after purchasing an additional 56 shares during the last quarter. Finally, Sepio Capital LP increased its position in Autodesk by 0.5% during the fourth quarter. Sepio Capital LP now owns 12,641 shares of the software company’s stock worth $3,742,000 after purchasing an additional 59 shares during the last quarter. 90.24% of the stock is owned by hedge funds and other institutional investors.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.