On August 18, Autodesk rose 3.3% in regular trading, trading at $249.74/share, with turnover of $53.92 million. The stock has been gaining momentum as multiple investment banks recently adjusted their price targets and ratings upward.
On the news front, Loop Capital raised its price target on Autodesk to $255 from $235 while maintaining a Hold rating. Goldman Sachs initiated coverage with a Neutral rating and a $260 target, citing the company's deep competitive moat in design software, pricing power, cross-selling opportunities, and long-term potential from AI and its MaintainX platform. Oppenheimer noted steady fiscal Q2 sales trends with limited disruption from the company's restructuring and new transaction model. Autodesk is scheduled to report fiscal Q2 earnings on August 27, with consensus EPS expectations of $2.35, and market confidence in results delivery continues to strengthen.
Within the Application Software sector, Salesforce.com rose 3.11%, Dynatrace rose 1.2%, Palantir rose 0.06%, while IREN fell 3.52% and Strategy fell 3.3%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)