Argus Reaffirms "Buy" Rating for Autodesk (NASDAQ:ADSK)

Key Points

• Argus reaffirmed its “Buy” rating on Autodesk and set a $355 price target, implying approximately 43.3% upside from the stock’s cited price. The broader analyst consensus remains “Moderate Buy,” with an average target of $321.19.
• Autodesk reported quarterly adjusted EPS of $3.30, exceeding estimates of $3.12, while revenue reached $2.05 billion and rose 16.1% year over year.
• The stock opened at $247.69 after falling 4.2%; company insiders recently purchased shares, and institutional investors own approximately 90.24% of Autodesk’s outstanding stock.

Autodesk (NASDAQ:ADSK - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Argus in a note issued to investors on Wednesday, Benzinga reports. They currently have a $355.00 target price on the software company's stock. Argus' target price would suggest a potential upside of 43.32% from the company's current price.

ADSK has been the subject of a number of other research reports. BMO Capital Markets lifted their target price on shares of Autodesk from $262.00 to $283.00 and gave the stock a "market perform" rating in a research note on Friday, August 28th. Rothschild & Co Redburn cut their target price on Autodesk from $375.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Guggenheim raised their target price on Autodesk from $277.00 to $283.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Weiss Ratings upgraded Autodesk from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Finally, Zacks Research lowered Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $321.19.

Autodesk Trading Down 4.2%

Shares of NASDAQ ADSK opened at $247.69 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.86. Autodesk has a 52-week low of $185.50 and a 52-week high of $329.09. The firm has a 50 day moving average price of $228.53 and a two-hundred day moving average price of $232.43. The stock has a market cap of $51.77 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.31.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.62 earnings per share. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. As a group, equities analysts forecast that Autodesk will post 9.66 EPS for the current year.

Insider Activity

In other news, EVP Janesh Moorjani bought 2,500 shares of Autodesk stock in a transaction dated Monday, June 15th. The stock was bought at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president directly owned 50,993 shares in the company, valued at approximately $10,079,786.31. This represents a 5.16% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John T. Cahill bought 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $189.20 per share, with a total value of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at $756,800. This represents a 100.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in Autodesk by 18,825.0% during the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company's stock worth $11,392,395,000 after buying an additional 58,287,201 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Autodesk during the second quarter valued at about $4,828,855,000. Bank of America Corp DE acquired a new position in shares of Autodesk during the second quarter valued at about $576,727,000. Norges Bank bought a new stake in shares of Autodesk during the fourth quarter worth about $867,480,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Autodesk by 44,345.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,280,515 shares of the software company's stock worth $675,055,000 after acquiring an additional 2,275,384 shares in the last quarter. 90.24% of the stock is currently owned by 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.

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