BMO Capital Markets Raises Autodesk Price Target to $308.00

BMO Capital Markets has revised its price target for Autodesk (NASDAQ:ADSK) from $287.00 to $308.00, as highlighted in a research note issued on Wednesday morning. The firm currently maintains a market perform rating on the stock of this prominent software company.

Several other brokerage firms have also updated their ratings and price targets for Autodesk lately. For instance, Goldman Sachs upgraded Autodesk's shares from a "sell" to a "neutral" rating and increased its price target to $295.00 from $225.00 in a report published on September 3rd. Likewise, Bank of America raised its price objective from $260.00 to $285.00 and issued a "neutral" rating on August 30th. Mizuho set a price target of $260.00 on October 18th. Barclays, on the other hand, adjusted its price target upwards from $310.00 to $355.00 while rating the stock as "overweight" on November 15th. Piper Sandler also increased its target price for Autodesk from $239.00 to $257.00, maintaining a neutral stance on August 30th. In total, eight analysts have given Autodesk a hold rating, thirteen have given it a buy rating, and one analyst has labeled it as a strong buy. According to data from MarketBeat.com, there is a consensus rating of "Moderate Buy" for the stock, with an average price target of $315.38.

Autodesk Stock Overview

On Wednesday, Autodesk shares opened at $290.64. Over the past twelve months, the stock has seen a low of $195.32 and a high of $326.62. The company's market capitalization stands at $62.49 billion. Key financial ratios for Autodesk include a P/E ratio of 59.44 and a P/E/G ratio of 4.08, with a beta of 1.47. The stock has a 50-day moving average price of $289.02 and a 200-day moving average price of $256.83. In terms of liquidity, Autodesk has a current ratio and quick ratio of 0.64, and a debt-to-equity ratio of 0.80.

Recently, Autodesk announced its quarterly earnings results on November 26th. The company reported earnings per share (EPS) of $2.17 for the quarter, exceeding analysts' expectations of $2.12 by $0.05. Autodesk's net margin stands at 18.21%, along with a notable return on equity of 59.41%. The firm generated revenue of $1.57 billion during the quarter, surpassing the expected $1.56 billion. This is an increase from the previous year, where Autodesk reported earnings of $1.33 EPS and a revenue rise of 11% year-over-year. Analysts project that Autodesk will record an EPS of 5.73 for the ongoing fiscal year.

Insider Transactions at Autodesk

In terms of insider trading, CAO Stephen W. Hope sold 286 shares of Autodesk on September 30th, with a sale price averaging $274.84, amounting to a total of $78,604.24. Following this transaction, Hope now holds 4,879 shares valued at approximately $1,340,944.36, which reflects a 5.54% decline in his ownership. This transaction was officially disclosed with the Securities and Exchange Commission (SEC). Additionally, Director Mary T. Mcdowell sold 550 shares on November 15th at an average price of $305.06, resulting in a total value of $167,783. Mcdowell currently owns 30,249 shares in Autodesk, valued at around $9,227,759.94, reflecting a 1.79% decrease in ownership post-sale. Over the last three months, company insiders sold a total of 19,280 shares worth $5,232,213. Currently, 0.14% of the stock is owned by insiders.

Institutional Investment in Autodesk

Institutional investors have recently made moves regarding Autodesk shares. Notable acquisitions include New Covenant Trust Company N.A., which bought a new stake valued at about $25,000 in the first quarter. Similarly, LRI Investments LLC invested around $26,000 in the same period, while Livelsberger Financial Advisory made a $27,000 purchase in the third quarter. Transcendent Capital Group LLC and Concord Wealth Partners also acquired new stakes worth about $28,000 each during the third quarter. Overall, institutional investors hold 90.24% of Autodesk's total shares.

About Autodesk

Autodesk, Inc. is a globally recognized provider of 3D design, engineering, and entertainment technology solutions. Its product offerings include AutoCAD Civil 3D, a tool for surveying, design, analysis, and documentation in civil engineering; BuildingConnected, a SaaS preconstruction solution; and various versions of AutoCAD tailored for professional design and drafting needs. Autodesk also provides Fusion 360, a versatile tool for CAD, CAM, and computer-aided engineering, along with specific Industry Collections aimed at professionals in architecture, engineering, construction, product design, and media and entertainment sectors.

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