Robert W. Baird Adjusts Autodesk Price Target to $336

Investment analysts at Robert W. Baird have revised their price target for shares of Autodesk (NASDAQ:ADSK) from $345.00 to $336.00 in a research note released on Friday. The firm maintains an "outperform" rating on the software company's stock. This new price target suggests a potential upside of 23.17% from Autodesk's current trading price.

In addition to this update, Autodesk has received attention from various analysts recently. Oppenheimer increased their price target for Autodesk from $300.00 to $350.00 while also assigning the stock an "outperform" rating on November 22nd. Meanwhile, HSBC downgraded the stock from a "buy" to a "hold" with a price objective of $290.00, effective November 29th. Similarly, Wells Fargo raised its price objective from $340.00 to $350.00 and gave Autodesk an "overweight" rating on the same day. Additional analysis from Rosenblatt Securities reaffirmed a "buy" rating with a price target of $325.00. Lastly, Morgan Stanley raised its price target from $375.00 to $385.00 on Friday, labeling the stock as "overweight." Overall, eight analysts have rated Autodesk with a hold rating, while sixteen have issued buy ratings. According to MarketBeat.com, Autodesk currently enjoys a "Moderate Buy" average rating, with a mean price target set at $333.50.

Recent Stock Performance of Autodesk

As of Friday, Autodesk (ADSK) shares opened at $272.80. The company shows a debt-to-equity ratio of 0.76, and both its quick ratio and current ratio stand at 0.65. Autodesk's market capitalization is $58.65 billion, accompanied by a price-to-earnings (P/E) ratio of 54.28 and a P/E/G ratio of 2.94. The stock has exhibited a beta of 1.43, indicating moderate volatility. The 50-day simple moving average stands at $297.11, while the 200-day simple moving average is at $286.59. Over the past year, Autodesk's shares have ranged from a low of $195.32 to a high of $326.62.

Autodesk last reported its quarterly earnings results on November 26th. The company posted an earnings per share (EPS) of $2.17, surpassing the consensus estimate of $2.12 by $0.05. The revenue for this quarter reached $1.57 billion, which aligns with analysts' expectations that had predicted $1.56 billion. Autodesk's net margin is recorded at 18.30%, with a return on equity of 53.87%. Notably, quarterly revenue marked an 11.0% increase compared to the same period last year. Analysts anticipate Autodesk will achieve an EPS of 5.76 for the current fiscal year.

Institutional Investors and Hedge Fund Activity

Several institutional investors have recently adjusted their positions concerning Autodesk shares. For instance, Golden State Wealth Management LLC purchased a new stake in the company worth $25,000 during the fourth quarter. Similarly, Transcendent Capital Group LLC acquired a new position in Autodesk valued at $28,000 during the third quarter, while Investment Management Corp VA ADV bought a stake worth $29,000 in the same quarter. Tradewinds Capital Management LLC also increased its stake by 100% during the fourth quarter, now holding 100 shares worth $30,000 after acquiring additional shares. Mizuho Securities Co. Ltd. is another institutional investor that has purchased a new stake in Autodesk valued at $30,000 during the same period. Overall, institutional investors collectively own 90.24% of Autodesk's stock.

About Autodesk

Autodesk, Inc. provides a wide range of 3D design, engineering, and entertainment technology solutions across the globe. The company offers various software products including AutoCAD Civil 3D for civil engineering projects, BuildingConnected as a preconstruction solution, and other design-related software such as AutoCAD and AutoCAD LT. Autodesk also provides Fusion 360, a tool for 3D CAD, CAM, and computer-aided engineering, among other industry-specific collections tailored for professionals in architecture, engineering, construction, product design, and entertainment.

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