Autodesk (NASDAQ:ADSK) Stock Price Up 7.5% – Still a Buy?

Autodesk, Inc. (NASDAQ:ADSKGet Free Report) was up 7.5% on Monday . The stock traded as high as $227.93 and last traded at $228.2970. 975,474 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 2,310,643 shares. The stock had previously closed at $212.40.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADSK. DA Davidson set a $325.00 price objective on shares of Autodesk in a research note on Friday, August 28th. Berenberg Bank set a $333.00 target price on Autodesk in a research note on Tuesday, September 1st. BNP Paribas Exane lifted their price target on Autodesk from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $330.00 target price on shares of Autodesk in a research report on Monday, August 31st. Finally, Citigroup raised their target price on shares of Autodesk from $269.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $321.19.

Get Our Latest Report on Autodesk

Autodesk Stock Up 8.3%

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86. The firm’s 50-day simple moving average is $232.03 and its two-hundred day simple moving average is $232.02. The company has a market capitalization of $48.09 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31.

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

Insider Transactions at Autodesk

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

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Autodesk by 14.5% in the 4th quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after purchasing an additional 147 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Autodesk by 98.1% during the second quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after purchasing an additional 1,224 shares in the last quarter. Schnieders Capital Management LLC. bought a new stake in shares of Autodesk in the 2nd quarter valued at $466,000. Baird Financial Group Inc. grew its stake in Autodesk by 7.5% in the second quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock valued at $3,111,000 after acquiring an additional 701 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of Autodesk by 25.3% in the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company’s stock worth $4,291,000 after acquiring an additional 2,795 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

(Get Free Report)

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.

Further Reading

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