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

Key Points

• Rosenblatt Securities reaffirmed a Buy rating on Autodesk and maintained a $330 price target, implying about 32% upside from the prior close.
• Autodesk shares rose 7.7% to $249.19 in Monday trading after the analyst update, with the stock remaining below its 52-week high of $329.09.
• The company recently posted better-than-expected quarterly results, with EPS of $2.99 versus $2.84 expected and revenue of $1.93 billion versus $1.89 billion expected.

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They currently have a $330.00 price objective on the software company's stock. Rosenblatt Securities' price target would indicate a potential upside of 32.43% from the stock's previous close.

Several other research analysts have also recently issued reports on ADSK. Royal Bank Of Canada cut their target price on Autodesk from $335.00 to $305.00 and set an "outperform" rating on the stock in a research report on Friday. Piper Sandler cut their target price on Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a research report on Friday. UBS Group reissued a "buy" rating on shares of Autodesk in a research report on Friday. Loop Capital cut their price objective on Autodesk from $250.00 to $235.00 and set a "hold" rating on the stock in a research report on Friday. Finally, Citigroup boosted their price objective on Autodesk from $246.00 to $252.00 and gave the stock a "neutral" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $327.21.

Autodesk Stock Up 7.7%

Autodesk stock traded up $17.88 during mid-day trading on Monday, reaching $249.19. The stock had a trading volume of 1,248,853 shares, compared to its average volume of 2,171,640. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.85 and a current ratio of 0.83. Autodesk has a fifty-two week low of $214.10 and a fifty-two week high of $329.09. The stock's 50-day simple moving average is $238.52 and its 200-day simple moving average is $260.14. The firm has a market capitalization of $52.62 billion, a PE ratio of 36.28, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 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 return on equity of 57.14% and a net margin of 19.49%.The company's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $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. On average, sell-side analysts forecast that Autodesk will post 9.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Stacy J. Smith acquired 3,435 shares of the firm's 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 purchase, the director owned 26,517 shares in the company, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company's stock.

Institutional Trading of Autodesk

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after acquiring an additional 78,928 shares during the last quarter. State Street Corp increased its stake in Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock worth $3,006,818,000 after acquiring an additional 70,053 shares during the last quarter. Geode Capital Management LLC increased its stake in Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after acquiring an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after purchasing an additional 155,255 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Autodesk in the 4th quarter worth about $867,480,000. 90.24% of the stock is currently owned by institutional investors.

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.

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