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

Key Points

• Wall Street Zen upgraded Autodesk from “hold” to “buy,” contributing to a broader consensus “Moderate Buy” rating and an average analyst price target of $316.84.
• Autodesk shares opened at $239.90 after falling 2.1%; the stock has traded between $185.50 and $320.00 over the past year.
• The company exceeded quarterly expectations, reporting $3.30 in EPS versus $3.12 expected and $2.05 billion in revenue, up 16.1% year over year. Institutional investors own approximately 90.24% of the company.

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

Other analysts also recently issued reports about the stock. Piper Sandler initiated coverage on shares of Autodesk in a report on Monday, September 28th. They set an "overweight" rating and a $300.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $330.00 price target on shares of Autodesk in a research note on Monday, August 31st. The Goldman Sachs Group upgraded Autodesk from a "hold" rating to an "outperform" rating and set a $265.00 price objective for the company in a report on Thursday, September 17th. Berenberg Bank set a $333.00 price objective on Autodesk in a research report on Tuesday, September 1st. Finally, New Street Research set a $277.00 price objective on Autodesk in a report on Thursday, August 20th. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.84.

Autodesk Trading Down 2.1%

Shares of ADSK stock opened at $239.90 on Friday. The company has a market capitalization of $50.14 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.62 and a beta of 1.33. Autodesk has a 52-week low of $185.50 and a 52-week high of $320.00. The business's fifty day moving average is $232.69 and its 200 day moving average is $227.97. 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 (NASDAQ:ADSK - Get Free Report) last posted its earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.12 by $0.18. The business had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The firm'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. On average, equities research analysts anticipate that Autodesk will post 9.70 EPS for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Institutional investors and hedge funds have recently made changes to their positions in the business. Ascentis Independent Advisors bought a new stake in shares of Autodesk in the 1st quarter valued at about $28,000. Johnson Financial Group Inc. bought a new position in Autodesk during the 2nd quarter worth approximately $30,000. Avalon Trust Co grew its position in Autodesk by 97.8% during the 1st quarter. Avalon Trust Co now owns 180 shares of the software company's stock worth $43,000 after acquiring an additional 89 shares during the last quarter. SHP Wealth Management purchased a new position in Autodesk in the 4th quarter worth approximately $53,000. Finally, Wellington Grp LLC increased its stake in Autodesk by 873.7% in the 1st quarter. Wellington Grp LLC now owns 185 shares of the software company's stock worth $44,000 after purchasing an additional 166 shares during the period. Institutional investors own 90.24% of the company's stock.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for people and organizations involved in architecture, engineering, construction, manufacturing, media and entertainment, and other design-related industries. Its tools help customers create, visualize, simulate and manage digital models and workflows throughout the product and building lifecycle.

The company's products include 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, 3ds Max and Arnold for media and entertainment production.

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