Autodesk Inc. (NASDAQ: ADSK) saw a rally after beating earnings expectations, reporting $2.17 EPS instead of the expected $2.12. Key performance indicators showed revenue growth of 18%, $1.7 billion in billings, and double-digit international revenue growth. Free cash flow also increased by 122%, allowing for business reinvestment and shareholder rewards.

Wall Street analysts give Autodesk a Moderate Buy rating with a $355.2 per share valuation, indicating 12% additional upside potential. Analysts from The Royal Bank of Canada and UBS Group have set price targets of $380 and $385 respectively, suggesting further double-digit growth for the stock.

Institutional investors, such as AQR Capital Management, boosted their Autodesk holdings by 68.9% before earnings, now holding $297.5 million worth of stock. Despite this aggressive buy, $2.8 billion more in Autodesk stock was purchased in the same period. The company remains a strong investment choice in the SaaS sector.

Read more at Nasdaq: Autodesk Stock Rally: Why Momentum May Not Be Done Yet