Autodesk (NASDAQ:ADSK) Upgraded to Buy at Loop Capital

Key Points

• Loop Capital upgraded Autodesk to Buy from Hold and set a $310 price target, implying 19.47% upside from the share price at the time of the report.
• Analyst sentiment is broadly positive: 27 analysts rate the stock Buy and five rate it Hold, with a consensus “Moderate Buy” rating and an average target of $319.97.
• Autodesk beat quarterly earnings and revenue estimates, reporting EPS of $3.30 versus $3.12 expected and revenue of $2.05 billion, up 16.1% year over year.

Autodesk (NASDAQ:ADSK - Get Free Report) was upgraded by equities researchers at Loop Capital from a "hold" rating to a "buy" rating in a research report issued on Friday, FinViz reports. The brokerage presently has a $310.00 price objective on the software company's stock. Loop Capital's price target points to a potential upside of 19.47% from the company's current price.

ADSK has been the subject of several other reports. Guggenheim restated a "buy" rating and issued a $283.00 price objective on shares of Autodesk in a research note on Monday, September 21st. Robert W. Baird lifted their target price on Autodesk from $312.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 21st. Citigroup boosted their price target on Autodesk from $269.00 to $276.00 and gave the company a "neutral" rating in a report on Monday, August 31st. KeyCorp restated an "overweight" rating on shares of Autodesk in a research report on Wednesday, August 19th. Finally, BMO Capital Markets raised their price objective on Autodesk from $262.00 to $283.00 and gave the stock a "market perform" rating in a research note on Friday, August 28th. Twenty-seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $319.97.

Autodesk Trading Down 0.2%

Shares of NASDAQ ADSK opened at $259.48 on Friday. The firm's 50 day moving average price is $233.67 and its 200-day moving average price is $234.00. Autodesk has a 52-week low of $185.50 and a 52-week high of $320.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $54.23 billion, a PE ratio of 33.57, a P/E/G ratio of 1.72 and a beta of 1.27.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings results 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. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the firm earned $2.62 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. 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 expect that Autodesk will post 9.70 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ADSK. Johnson Financial Group Inc. bought a new position in shares of Autodesk in the second quarter worth about $30,000. Avalon Trust Co bought a new stake in Autodesk during the 2nd quarter valued at approximately $35,000. Next Level Wealth Planning LLC bought a new stake in Autodesk during the 3rd quarter valued at approximately $35,000. Community Financial Services Group LLC purchased a new position in Autodesk in the 2nd quarter worth approximately $37,000. Finally, Clearstead Trust LLC purchased a new position in Autodesk in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 90.24% of the company's stock.

About Autodesk

Autodesk, Inc. develops software and cloud-based services for designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment. The company's products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.

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