Autodesk (NASDAQ:ADSK) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

ADSK has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Piper Sandler assumed coverage on shares of Autodesk in a research note on Monday, September 28th. They issued an “overweight” rating and a $300.00 price objective for the company. Argus reiterated a “buy” rating and set a $355.00 price objective on shares of Autodesk in a research report on Wednesday, September 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $325.00 price objective on shares of Autodesk in a research report on Monday, November 9th. Finally, Cantor Fitzgerald assumed coverage on shares of Autodesk in a research note on Monday, September 14th. They set a “neutral” rating and a $215.00 target price on the stock. Twenty-seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $319.97.

Autodesk Trading Up 1.9%

NASDAQ ADSK traded up $4.94 on Friday, hitting $264.42. 1,472,408 shares of the company were exchanged, compared to its average volume of 1,874,995. The company’s 50 day moving average price is $234.20 and its 200-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. The firm has a market capitalization of $55.26 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27. Autodesk has a twelve month low of $185.50 and a twelve month high of $320.00.

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

Institutional Trading of Autodesk

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Autodesk in the 2nd quarter valued at approximately $4,828,855,000. State Street Corp lifted its position in Autodesk by 2.9% in the 2nd quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock worth $1,996,338,000 after buying an additional 284,621 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Autodesk by 5.2% during 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 period. Pictet Asset Management Holding SA boosted its stake in shares of 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 buying an additional 333,485 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Autodesk during the 2nd quarter valued at $576,727,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.