Piper Sandler Begins Coverage on Autodesk (NASDAQ:ADSK)

Research analysts at Piper Sandler began coverage on shares of Autodesk (NASDAQ:ADSK) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $300.00 price target on the software company’s stock. Piper Sandler’s price objective would indicate a potential upside of 47.65% from the company’s current price.

ADSK has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $330.00 target price on shares of Autodesk in a research note on Monday, August 31st. Barclays restated an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. BNP Paribas Exane lifted their price objective on Autodesk from $295.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. DA Davidson set a $325.00 target price on Autodesk in a report on Friday, August 28th. Finally, Robert W. Baird increased their target price on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.84.

Autodesk Price Performance

ADSK opened at $203.18 on Monday. 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 has a 52-week low of $185.50 and a 52-week high of $326.20. The stock has a market capitalization of $42.46 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The stock’s 50 day moving average price is $233.30 and its 200-day moving average price is $229.37.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results 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 company had revenue of $2.05 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. On average, equities research analysts predict that Autodesk will post 9.71 EPS for the current year.

Institutional Trading of Autodesk

A number of hedge funds have recently made changes to their positions in ADSK. Ascentis Independent Advisors purchased a new position in Autodesk during the first quarter valued at $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Autodesk in the second quarter worth $30,000. Avalon Trust Co bought a new position in shares of Autodesk during the second quarter valued at $35,000. Community Financial Services Group LLC bought a new position in shares of Autodesk during the second quarter valued at $37,000. Finally, Clearstead Trust LLC purchased a new position in shares of Autodesk in the 2nd quarter worth about $39,000. 90.24% of the stock is owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations involved in architecture, engineering, construction, manufacturing, media and entertainment, and other design-related industries. Its tools help customers create, visualize, simulate and manage digital models and workflows throughout the product and building lifecycle.

The company’s products include AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya, 3ds Max and Arnold for media and entertainment production.