Autodesk (NASDAQ:ADSK) Stock Lifted to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Autodesk to “Buy” from “Hold.” The broader analyst consensus is “Moderate Buy,” with 25 Buy, one Strong Buy and six Hold ratings, and an average price target of $316.84.
• Autodesk’s latest quarterly results exceeded expectations, with earnings of $3.30 per share versus the $3.12 consensus and revenue of $2.05 billion versus $2.01 billion expected. Revenue increased 16.1% year over year.
• Institutional ownership remains high at 90.24%, with major investors including BlackRock, State Street and Pictet Asset Management recently increasing or initiating positions.

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

Several other research analysts have also recently issued reports on ADSK. Rosenblatt Securities reiterated a "buy" rating and issued a $330.00 price objective on shares of Autodesk in a report on Monday, August 31st. BMO Capital Markets boosted their target price on Autodesk from $262.00 to $283.00 and gave the stock a "market perform" rating in a report on Friday, August 28th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $305.00 price target on shares of Autodesk in a research note on Thursday, September 17th. KeyCorp reiterated an "overweight" rating on shares of Autodesk in a research report on Wednesday, August 19th. Finally, Piper Sandler began coverage on Autodesk in a report on Monday, September 28th. They issued an "overweight" rating and a $300.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $316.84.

Autodesk Trading Down 1.1%

NASDAQ:ADSK opened at $252.20 on Friday. The stock has a market cap of $52.71 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 1.67 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86. Autodesk has a 1 year low of $185.50 and a 1 year high of $320.00. The business has a fifty day moving average of $232.12 and a 200-day moving average of $228.31.

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 analysts' consensus estimates of $3.12 by $0.18. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company's revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business 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. Equities analysts predict that Autodesk will post 9.70 earnings per share for the current year.

Institutional Investors Weigh In On Autodesk

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

Autodesk Company Profile

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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