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

Autodesk (NASDAQ:ADSK) had its price objective lifted by research analysts at Robert W. Baird from $312.00 to $325.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 29.47% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Autodesk in a research note on Tuesday, August 11th. They issued a “neutral” rating and a $260.00 price objective for the company. Morgan Stanley cut their price objective on Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Loop Capital decreased their target price on Autodesk from $250.00 to $235.00 and set a “hold” rating for the company in a research report on Friday, May 29th. BNP Paribas Exane started coverage on Autodesk in a report on Thursday, June 18th. They set an “outperform” rating and a $295.00 price target on the stock. Finally, Weiss Ratings lowered shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and an average price target of $321.65.

Autodesk Stock Down 0.1%

NASDAQ:ADSK opened at $251.02 on Friday. Autodesk has a 1-year low of $185.50 and a 1-year high of $329.09. The firm has a market capitalization of $52.97 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 1.54 and a beta of 1.29. 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 business’s fifty day moving average price is $218.61 and its 200 day moving average price is $231.62.

Autodesk (NASDAQ:ADSK) 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. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm posted $2.29 earnings per share. The firm’s revenue 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. On average, sell-side analysts forecast that Autodesk will post 9.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Autodesk

In other Autodesk news, Director Stacy J. Smith purchased 3,435 shares of the company’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $231.17 per share, with a total value of $794,068.95. Following the transaction, the director directly owned 26,517 shares in the company, valued at approximately $6,129,934.89. This represents a 14.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $197.67 per share, with a total value of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 7,935 shares of company stock valued at $1,666,644 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Autodesk in the fourth quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in Autodesk in the 3rd quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in Autodesk in the 4th quarter valued at $25,000. Archer Investment Corp raised its stake in shares of 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 buying an additional 46 shares in the last quarter. Finally, Prosperity Bancshares Inc bought a new position in shares of Autodesk during the 4th quarter worth about $27,000. 90.24% of the stock is currently owned by 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.