Autodesk (NASDAQ:ADSK) Shares Gap Down Following Analyst Downgrade

Shares of Autodesk, Inc. (NASDAQ:ADSK) gapped down prior to trading on Friday after Wells Fargo & Company lowered their price target on the stock from $350.00 to $330.00. The stock had previously closed at $240.95, but opened at $225.56. Wells Fargo & Company currently has an overweight rating on the stock. Autodesk shares last traded at $224.2640, with a volume of 1,002,745 shares changing hands.

A number of other research analysts also recently issued reports on ADSK. Loop Capital dropped their price target on shares of Autodesk from $250.00 to $235.00 and set a “hold” rating on the stock in a research report on Friday. Arete Research dropped their target price on shares of Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. UBS Group cut their price target on shares of Autodesk from $400.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Royal Bank Of Canada reiterated an “outperform” rating and set a $305.00 price target on shares of Autodesk in a report on Friday. Finally, Barclays lowered their price objective on Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Autodesk has a consensus rating of “Moderate Buy” and a consensus target price of $327.75.

Autodesk News Roundup

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk delivered better-than-expected Q1 results, with revenue of $1.93 billion and adjusted EPS of $2.99 both topping estimates, while revenue rose 18.4% year over year. AUTODESK, INC. ANNOUNCES FISCAL 2027 FIRST QUARTER RESULTS
• Positive Sentiment: The company raised guidance for fiscal 2027 and Q2, signaling management confidence in continued growth and profitability. AUTODESK, INC. ANNOUNCES FISCAL 2027 FIRST QUARTER RESULTS
• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $300 price target, while Piper Sandler maintained Overweight, despite trimming its target to $369, reinforcing Wall Street’s bullish long-term view. Benzinga rating update
• Positive Sentiment: Autodesk announced it will present at upcoming investor conferences, which can help keep investors focused on the company’s strategy and outlook. Autodesk to present at upcoming investor conferences
• Neutral Sentiment: Autodesk’s planned $3.6 billion acquisition of MaintainX could expand its operations platform and AI ambitions over time, but it also adds integration and execution risk that may be keeping some investors cautious. Autodesk to acquire MaintainX, advancing unified platform in operations
• Negative Sentiment: Some traders appear to be focusing on the acquisition headline rather than the earnings beat, with reports noting the stock slipped in premarket trading despite strong fundamentals. Why Autodesk (ADSK) Stock Tumbled 5% Despite Strong Earnings Results

Hedge Funds Weigh In On Autodesk

A number of hedge funds have recently added to or reduced their stakes in ADSK. Vanguard Group Inc. lifted its holdings in shares of Autodesk by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company’s stock valued at $6,362,192,000 after purchasing an additional 78,928 shares in the last quarter. State Street Corp grew its holdings in Autodesk by 0.7% during the fourth quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock worth $3,006,818,000 after buying an additional 70,053 shares in the last quarter. Geode Capital Management LLC raised its position in Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock valued at $1,677,404,000 after buying an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company’s stock valued at $752,824,000 after buying an additional 155,255 shares during the last quarter. Finally, Norges Bank bought a new position in Autodesk during the 4th quarter valued at $867,480,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Trading Down 6.7%

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $47.48 billion, a P/E ratio of 42.91, a PEG ratio of 1.53 and a beta of 1.32. The firm has a 50 day simple moving average of $238.86 and a two-hundred day simple moving average of $260.61.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.15. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business posted $2.29 EPS. The business’s revenue was up 18.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Equities research analysts forecast that Autodesk, Inc. will post 9.35 earnings per share for the current year.

Autodesk Company Profile

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.