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

Autodesk (NASDAQ:ADSK) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on ADSK. Oppenheimer reiterated an “outperform” rating on shares of Autodesk in a research report on Friday, November 6th. Weiss Ratings raised Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Robert W. Baird raised their price objective on Autodesk from $312.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 21st. Piper Sandler initiated coverage on Autodesk in a research report on Monday, September 28th. They set an “overweight” rating and a $300.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research note on Monday. Twenty-seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Autodesk currently has a consensus rating of “Moderate Buy” and an average target price of $319.97.

Autodesk Price Performance

NASDAQ:ADSK opened at $264.42 on Friday. Autodesk has a one year low of $185.50 and a one year high of $320.00. The company has a market cap of $55.26 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.72 and a beta of 1.27. The firm’s fifty day moving average price is $234.20 and its two-hundred day moving average price is $233.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.62 EPS. 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 analysts expect that Autodesk will post 9.70 earnings per share for the current year.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Autodesk in the second quarter valued at $4,828,855,000. State Street Corp lifted its stake in shares of Autodesk by 2.9% in the 2nd 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 last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 acquiring an additional 155,255 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Autodesk by 12.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 3,080,128 shares of the software company’s stock valued at $643,514,000 after acquiring an additional 333,485 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Autodesk during the 2nd quarter valued at about $576,727,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

About Autodesk

Autodesk, Inc. develops software and cloud-based services for designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment. The company’s products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.