Robert W. Baird Forecasts Strong Price Appreciation for Autodesk (NASDAQ:ADSK) Stock

Autodesk (NASDAQ:ADSK) had its price objective hoisted by Robert W. Baird from $305.00 to $330.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the software company’s stock.

Other research analysts have also issued research reports about the company. Hsbc Global Res raised Autodesk to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America boosted their price target on Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Piper Sandler boosted their target price on Autodesk from $239.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Mizuho set a $260.00 target price on Autodesk in a report on Friday, October 18th. Finally, BMO Capital Markets boosted their target price on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $302.38.

Autodesk Trading Up 2.4 %

NASDAQ:ADSK opened at $315.22 on Monday. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $317.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $67.77 billion, a PE ratio of 64.46, a price-to-earnings-growth ratio of 3.90 and a beta of 1.47. The business’s 50-day simple moving average is $285.29 and its 200-day simple moving average is $253.88.

Autodesk (NASDAQ:ADSK) last released its earnings results on Thursday, August 29th. The software company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.00 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 EPS. Sell-side analysts expect that Autodesk will post 5.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Stephen W. Hope sold 286 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $274.84, for a total value of $78,604.24. Following the transaction, the chief accounting officer now owns 4,879 shares in the company, valued at $1,340,944.36. This trade represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary T. Mcdowell sold 550 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares in the company, valued at $8,323,159.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,280 shares of company stock valued at $5,232,213. Company insiders own 0.14% of the company’s stock.

Institutional Trading of Autodesk

A number of large investors have recently bought and sold shares of the company. New Covenant Trust Company N.A. purchased a new position in shares of Autodesk in the first quarter valued at $25,000. LRI Investments LLC purchased a new position in shares of Autodesk in the first quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of Autodesk in the third quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in shares of Autodesk in the third quarter valued at $28,000. Finally, Concord Wealth Partners purchased a new position in shares of Autodesk in the third quarter valued at $28,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.