Autodesk (NASDAQ:ADSK) Lowered to Hold Rating by Zacks Research

Zacks Research cut shares of Autodesk (NASDAQ:ADSK) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

A number of other research firms have also weighed in on ADSK. Barclays cut their target price on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Autodesk in a research note on Wednesday, January 21st. Arete Research cut their target price on shares of Autodesk from $460.00 to $456.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Wolfe Research upped their target price on shares of Autodesk from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Finally, Piper Sandler restated an “overweight” rating and set a $383.00 target price (up from $373.00) on shares of Autodesk in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and a consensus target price of $333.07.

Autodesk Stock Up 1.2%

Shares of ADSK opened at $236.62 on Thursday. The stock has a market capitalization of $49.96 billion, a PE ratio of 45.16, a P/E/G ratio of 1.51 and a beta of 1.32. Autodesk has a 1 year low of $214.10 and a 1 year high of $329.09. 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 company’s 50-day simple moving average is $241.37 and its 200-day simple moving average is $264.75.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 26th. The software company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.21. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Autodesk had a net margin of 15.60% and a return on equity of 53.51%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. Analysts forecast that Autodesk will post 9.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Several hedge funds have recently added to or reduced their stakes in the stock. Patron Partners LLC increased its stake in Autodesk by 0.8% in the third quarter. Patron Partners LLC now owns 4,295 shares of the software company’s stock valued at $1,364,000 after purchasing an additional 35 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Autodesk by 3.8% in the third quarter. Catalyst Financial Partners LLC now owns 1,023 shares of the software company’s stock valued at $325,000 after acquiring an additional 37 shares during the period. Piscataqua Savings Bank boosted its holdings in shares of Autodesk by 33.3% in the fourth quarter. Piscataqua Savings Bank now owns 160 shares of the software company’s stock valued at $47,000 after acquiring an additional 40 shares during the period. Moss Adams Wealth Advisors LLC boosted its holdings in shares of Autodesk by 1.0% in the fourth quarter. Moss Adams Wealth Advisors LLC now owns 4,267 shares of the software company’s stock valued at $1,263,000 after acquiring an additional 41 shares during the period. Finally, Keybank National Association OH boosted its holdings in shares of Autodesk by 0.8% in the third quarter. Keybank National Association OH now owns 5,403 shares of the software company’s stock valued at $1,716,000 after acquiring an additional 42 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.