Autodesk (NASDAQ:ADSK) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Autodesk from “buy” to “hold.” Despite the downgrade, analysts overall maintain a “Moderate Buy” consensus, with an average price target of $316.84.
• Autodesk reported quarterly earnings of $3.30 per share, exceeding estimates of $3.12, while revenue reached $2.05 billion and increased 16.1% year over year.
• Institutional investors and hedge funds own approximately 90.24% of Autodesk’s shares, with major holders including BlackRock, State Street and Arrowstreet Capital.

Autodesk (NASDAQ:ADSK - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Monday, Wall Street Zen reports.

ADSK has been the topic of several other research reports. The Goldman Sachs Group upgraded Autodesk from a "hold" rating to an "outperform" rating and set a $265.00 price target on the stock in a research note on Thursday, September 17th. Weiss Ratings raised shares of Autodesk from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, October 6th. DA Davidson set a $325.00 price target on shares of Autodesk in a research note on Friday, August 28th. Rosenblatt Securities reissued a "buy" rating and issued a $330.00 price objective on shares of Autodesk in a report on Monday, August 31st. Finally, Robert W. Baird raised their price target on Autodesk from $312.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $316.84.

Autodesk Stock Performance

Autodesk stock opened at $249.61 on Monday. 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's fifty day moving average price is $232.45 and its 200 day moving average price is $234.15. The company has a market capitalization of $52.17 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 1.65 and a beta of 1.27. Autodesk has a 12-month low of $185.50 and a 12-month high of $320.00.

Autodesk (NASDAQ:ADSK - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates 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. On average, research analysts forecast that Autodesk will post 9.70 EPS for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of ADSK. BlackRock Inc. acquired a new position in Autodesk in the second quarter valued at $4,828,855,000. State Street Corp increased its stake in Autodesk by 2.9% during the second quarter. State Street Corp now owns 10,268,172 shares of the software company's stock worth $1,996,338,000 after acquiring an additional 284,621 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Autodesk by 5.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,144,627 shares of the software company's stock worth $752,824,000 after acquiring an additional 155,255 shares during the period. Bank of America Corp DE acquired a new position in Autodesk during the 2nd quarter worth $576,727,000. Finally, Pictet Asset Management Holding SA grew its position in shares of Autodesk by 30.6% during the second quarter. Pictet Asset Management Holding SA now owns 2,746,643 shares of the software company's stock worth $534,014,000 after acquiring an additional 643,267 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

Autodesk, Inc develops software and cloud-based services for the architecture, engineering, construction, manufacturing, media and entertainment industries. Its products help customers design, visualize, simulate and manage projects, products and digital content throughout their lifecycles.

The company's portfolio includes AutoCAD for computer-aided design; Revit for building information modeling; Civil 3D for civil engineering and infrastructure design; Inventor and Fusion for product design and manufacturing; and Maya and 3ds Max for animation, modeling and visual effects.

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