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

Autodesk (NASDAQ:ADSK) had its target price upped by investment analysts at Robert W. Baird from $330.00 to $345.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the software company’s stock. Robert W. Baird’s target price would suggest a potential upside of 16.69% from the stock’s previous close.

A number of other brokerages have also issued reports on ADSK. Piper Sandler raised Autodesk from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $311.00 to $357.00 in a research note on Wednesday, January 8th. UBS Group initiated coverage on Autodesk in a research report on Monday, December 2nd. They set a “buy” rating and a $350.00 target price for the company. HSBC cut shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price target on the stock. in a report on Friday, November 29th. Oppenheimer lifted their price objective on shares of Autodesk from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Macquarie assumed coverage on Autodesk in a report on Thursday, December 12th. They set an “outperform” rating and a $380.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.45.

Autodesk Stock Down 2.3 %

Shares of NASDAQ ADSK opened at $295.66 on Wednesday. The stock has a market capitalization of $63.57 billion, a price-to-earnings ratio of 58.66, a P/E/G ratio of 3.12 and a beta of 1.43. Autodesk has a 12-month low of $195.32 and a 12-month high of $326.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $299.16 and its 200-day moving average price is $284.71.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, November 26th. The software company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.12 by $0.05. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.56 billion. Autodesk had a net margin of 18.30% and a return on equity of 53.87%. Autodesk’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.33 earnings per share. On average, equities research analysts anticipate that Autodesk will post 5.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Creative Planning increased its position in shares of Autodesk by 6.3% in the 3rd quarter. Creative Planning now owns 40,030 shares of the software company’s stock valued at $11,028,000 after acquiring an additional 2,371 shares during the period. Foundations Investment Advisors LLC grew its stake in Autodesk by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 2,784 shares of the software company’s stock valued at $767,000 after purchasing an additional 78 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Autodesk by 13.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,464 shares of the software company’s stock valued at $954,000 after purchasing an additional 419 shares during the period. Signaturefd LLC raised its stake in shares of Autodesk by 8.8% in the third quarter. Signaturefd LLC now owns 3,053 shares of the software company’s stock worth $841,000 after purchasing an additional 248 shares during the last quarter. Finally, Eastern Bank lifted its holdings in shares of Autodesk by 244.5% during the third quarter. Eastern Bank now owns 6,963 shares of the software company’s stock worth $1,918,000 after purchasing an additional 4,942 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

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.