My Portfolio
My Watchlists
Profile & Performance
Smart Portfolio
Find & Follow Experts
Top Lists
Top Experts
Make Better, Data Driven Investment Decisions
TipRanks tools are all you need to make data-driven investment decisions. Conduct comprehensive stock research, find new investment ideas, analyze your portfolio, and follow the best-performing Wall Street experts, with ease.
About Us
Plans & Pricing
Welcome

Autodesk Prices Inaugural $1B Sustainability Bond Offering; Street Says Buy

Software company Autodesk, Inc. (ADSK) recently announced the pricing of its first sustainability bond offering amounting to $1 billion in 2.4% senior notes due 2031. The offering is likely to close on October 7, 2021.

Following the news, shares of the company gained marginally to close at $277.42 in extended trade on Wednesday.

The company intends to use the net proceeds from the offering to partly or wholly finance or refinance certain eligible projects related to both environmental and social initiatives. (See Autodesk stock chart on TipRanks)

Last month, Mizuho Securities analyst Matthew Broome reiterated a Buy rating on the stock. The analyst, however, lowered the price target from $370 to $350, which implies upside potential of 26.2% from current levels.

The analyst reduced the price target on updated comps. However, he remains bullish on the company’s prospects.

Consensus among analysts is a Strong Buy based on 10 Buys and 2 Holds. The average Autodesk price target of $352.70 implies upside potential of 27.1% from current levels.

Autodesk scores an 8 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Shares have gained 19.1% over the past year.

Related News:
AutoZone Unveils $1.5B Additional Share Buyback Plan
Xerox Snaps Up Competitive Computing; Shares Rise
Quipt Bolsters Footprint in Mississippi; Street Says Buy