Autodesk's stock price soared 5.05% during intraday trading on Monday, marking a significant rebound for the software company.

The surge follows the company's reported first-quarter earnings, which exceeded analyst expectations. Autodesk posted adjusted earnings per share of $2.99, beating the consensus estimate of $2.84, while revenue of $1.934 billion also surpassed the expected $1.893 billion, representing an 18.4% year-over-year increase.

Analyst sentiment provided a supportive floor for the move. Multiple Wall Street firms maintained positive ratings, with Citi raising its price target on the shares to $252 from $246. The overall positive analyst coverage, including maintained Overweight and Outperform ratings from other major firms, helped fuel the oversold rebound following a decline in the previous trading session.