Autodesk (NASDAQ:ADSK) Upgraded by Guggenheim to Strong-Buy Rating

Autodesk (NASDAQ:ADSK) was upgraded by stock analysts at Guggenheim to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on ADSK. DA Davidson reissued a “buy” rating and issued a $325.00 target price on shares of Autodesk in a research note on Friday, May 29th. BMO Capital Markets cut their price objective on shares of Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research report on Friday, May 29th. Barclays reduced their price objective on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Royal Bank Of Canada decreased their target price on shares of Autodesk from $335.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Finally, Morgan Stanley cut their price target on shares of Autodesk from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have issued 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 an average target price of $323.40.

Autodesk Stock Up 0.9%

NASDAQ:ADSK opened at $205.26 on Wednesday. Autodesk has a 1-year low of $185.50 and a 1-year high of $329.09. The company has a market capitalization of $43.31 billion, a PE ratio of 29.92, a P/E/G ratio of 1.25 and a beta of 1.32. The firm’s 50-day moving average price is $215.47 and its 200-day moving average price is $235.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.83 and a quick ratio of 0.83.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $2.29 earnings per share. 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. On average, equities analysts predict that Autodesk will post 9.64 EPS for the current fiscal year.

Insider Transactions at Autodesk

In other news, Director John T. Cahill purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the purchase, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stacy J. Smith bought 3,435 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $231.17 per share, for a total transaction of $794,068.95. Following the acquisition, the director owned 26,517 shares of the company’s stock, valued at $6,129,934.89. This trade represents a 14.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 7,935 shares of company stock worth $1,666,644 over the last three months. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently made changes to their positions in the business. Brighton Jones LLC raised its position in Autodesk by 14.5% in the fourth quarter. Brighton Jones LLC now owns 1,162 shares of the software company’s stock worth $343,000 after acquiring an additional 147 shares during the period. Sivia Capital Partners LLC increased its stake in shares of Autodesk by 98.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,472 shares of the software company’s stock worth $765,000 after purchasing an additional 1,224 shares in the last quarter. Schnieders Capital Management LLC. purchased a new stake in shares of Autodesk in the 2nd quarter worth $466,000. Baird Financial Group Inc. raised its holdings in Autodesk by 7.5% in the 2nd quarter. Baird Financial Group Inc. now owns 10,048 shares of the software company’s stock worth $3,111,000 after purchasing an additional 701 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Autodesk by 25.3% during the second quarter. NewEdge Advisors LLC now owns 13,860 shares of the software company’s stock valued at $4,291,000 after purchasing an additional 2,795 shares in the last quarter. 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.