Autodesk (NASDAQ:ADSK) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other analysts have also weighed in on the company. Citigroup upped their target price on Autodesk from $269.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 31st. KeyCorp reiterated an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. New Street Research set a $277.00 price objective on shares of Autodesk in a research note on Thursday, August 20th. Weiss Ratings upgraded shares of Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 31st. Finally, Piper Sandler dropped their target price on shares of Autodesk from $369.00 to $338.00 and set an “overweight” rating for the company in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.19.

Autodesk Price Performance

ADSK stock opened at $217.90 on Friday. The firm has a 50 day moving average of $230.90 and a 200-day moving average of $232.51. The company has a market cap of $45.54 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.43 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. Autodesk has a 12-month low of $185.50 and a 12-month high of $329.09.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the firm posted $2.62 EPS. The company’s revenue was up 16.1% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities analysts expect that Autodesk will post 9.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Janesh Moorjani acquired 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The shares were acquired at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the transaction, the executive vice president directly owned 50,993 shares of the company’s stock, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John Cahill acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were bought at an average price of $189.20 per share, with a total value of $378,400.00. Following the transaction, the director owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently modified their holdings of ADSK. California State Teachers Retirement System increased its stake in Autodesk by 18,825.0% in the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock valued at $11,392,395,000 after purchasing an additional 58,287,201 shares during the last quarter. BlackRock Inc. purchased a new position in Autodesk during the second quarter worth about $4,828,855,000. Bank of America Corp DE acquired a new stake in Autodesk in the 2nd quarter worth about $576,727,000. Norges Bank acquired a new stake in Autodesk in the 4th quarter worth about $867,480,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Autodesk by 44,345.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company’s stock valued at $675,055,000 after buying an additional 2,275,384 shares during the period. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc (NASDAQ: ADSK) is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company’s product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.