BTIG Research Reiterates Buy Rating for Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a report released on Friday, Benzinga reports. They currently have a $300.00 target price on the software company’s stock. BTIG Research’s price objective indicates a potential upside of 37.21% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Loop Capital cut their price objective on Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a report on Friday, May 29th. Guggenheim lifted their target price on Autodesk from $277.00 to $283.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Rosenblatt Securities reiterated a “buy” rating and set a $330.00 price target on shares of Autodesk in a research note on Monday, August 31st. Berenberg Bank set a $333.00 price target on shares of Autodesk in a research report on Tuesday, September 1st. Finally, New Street Research set a $277.00 price objective on shares of Autodesk in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $318.03.

Autodesk Price Performance

Autodesk stock opened at $218.64 on Friday. The company’s 50 day simple moving average is $233.22 and its 200-day simple moving average is $231.80. The company has a market capitalization of $45.70 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31. Autodesk has a 1 year low of $185.50 and a 1 year high of $326.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company posted $2.62 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities research analysts expect that Autodesk will post 9.72 earnings per share for the current year.

Insider Activity at Autodesk

In other news, Director John Cahill bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADSK. The Manufacturers Life Insurance Company increased its position in shares of Autodesk by 116.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 444,419 shares of the software company’s stock valued at $86,404,000 after purchasing an additional 239,524 shares during the last quarter. National Pension Service lifted its position in shares of Autodesk by 4.1% during the 2nd quarter. National Pension Service now owns 849,876 shares of the software company’s stock worth $165,233,000 after purchasing an additional 33,448 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Autodesk by 438.6% during the second quarter. WINTON GROUP Ltd now owns 35,659 shares of the software company’s stock worth $6,933,000 after purchasing an additional 29,038 shares in the last quarter. GFG Capital LLC grew its stake in shares of Autodesk by 12.8% during the second quarter. GFG Capital LLC now owns 10,619 shares of the software company’s stock worth $2,065,000 after purchasing an additional 1,204 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Autodesk by 24.8% in the second quarter. IFP Advisors Inc now owns 2,380 shares of the software company’s stock valued at $463,000 after buying an additional 473 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.