Wall Street Zen Upgrades Autodesk (NASDAQ:ADSK) to Buy

by · The Cerbat Gem

Autodesk (NASDAQ:ADSK – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on the company. KeyCorp reissued an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. BNP Paribas Exane upped their price objective on shares of Autodesk from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. New Street Research set a $277.00 target price on shares of Autodesk in a research note on Thursday, August 20th. Robert W. Baird lifted their target price on shares of Autodesk from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, August 21st. Finally, The Goldman Sachs Group raised shares of Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 price target for the company in a research note on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Get Our Latest Stock Report on Autodesk

Autodesk Stock Performance

Autodesk stock opened at $239.90 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86. Autodesk has a fifty-two week low of $185.50 and a fifty-two week high of $320.00. The stock has a market cap of $50.14 billion, a P/E ratio of 31.03, a PEG ratio of 1.59 and a beta of 1.33. The firm’s fifty day moving average price is $232.69 and its 200-day moving average price is $227.91.

Autodesk (NASDAQ:ADSK – Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Equities research analysts forecast that Autodesk will post 9.70 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Autodesk during the 2nd quarter valued at $4,828,855,000. State Street Corp increased its position in shares of Autodesk by 2.9% in the second quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock valued at $1,996,338,000 after acquiring an additional 284,621 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 5.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after acquiring an additional 155,255 shares during the period. Bank of America Corp DE purchased a new position in shares of Autodesk in the second quarter valued at about $576,727,000. Finally, Pictet Asset Management Holding SA raised its stake in shares of Autodesk by 30.6% during the second quarter. Pictet Asset Management Holding SA now owns 2,746,643 shares of the software company’s stock valued at $534,014,000 after acquiring an additional 643,267 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

About Autodesk

(Get Free Report)

Autodesk, Inc develops software and cloud-based services for the architecture, engineering, construction, manufacturing, media and entertainment industries. Its products help customers design, visualize, simulate and manage projects, products and digital content throughout their lifecycles.

The company’s portfolio includes AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya and 3ds Max for animation, modeling and visual effects.

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