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New Buy Rating for Autodesk (ADSK), the Technology Giant

Tipranks - Tue Jun 2, 4:28AM CDT

In a report released today, Saket Kalia from Barclays maintained a Buy rating on Autodesk, with a price target of $300.00.

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According to TipRanks, Kalia is a 4-star analyst with an average return of 7.3% and a 55.09% success rate. Kalia covers the Technology sector, focusing on stocks such as Rubrik, Inc. Class A, Fortinet, and CrowdStrike Holdings.

In addition to Barclays, Autodesk also received a Buy from BTIG’s Nick Altmann in a report issued on May 29. However, on the same day, BMO Capital maintained a Hold rating on Autodesk (NASDAQ: ADSK).

Based on Autodesk’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.93 billion and a net profit of $491 million. In comparison, last year the company earned a revenue of $1.63 billion and had a net profit of $152 million

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ADSK in relation to earlier this year.

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