Autodesk's (ADSK) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed Autodesk’s “Outperform” rating with a $305 price target, implying approximately 40.3% upside from the prior close.
• Analyst sentiment remains favorable, with Autodesk carrying a “Moderate Buy” consensus rating and an average price target of $318.03, despite some neutral and hold ratings.
• Autodesk’s latest quarterly results exceeded expectations, with adjusted 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)'s stock had its "outperform" rating reiterated by equities research analysts at Royal Bank Of Canada in a report released on Thursday, Benzinga reports. They presently have a $305.00 price objective on the software company's stock. Royal Bank Of Canada's price objective points to a potential upside of 40.28% from the stock's previous close.

Several other equities research analysts also recently weighed in on ADSK. Cantor Fitzgerald initiated coverage on shares of Autodesk in a research note on Monday. They issued a "neutral" rating and a $215.00 target price on the stock. Morgan Stanley cut their price target on shares of Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. Robert W. Baird increased their price objective on shares of Autodesk from $312.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, August 21st. Wall Street Zen downgraded shares of Autodesk from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Argus restated a "buy" rating and set a $355.00 target price on shares of Autodesk in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Autodesk currently has an average rating of "Moderate Buy" and an average price target of $318.03.

Autodesk Trading Down 1.3%

Shares of ADSK stock opened at $217.43 on Thursday. The company has a market cap of $45.44 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. Autodesk has a 1 year low of $185.50 and a 1 year high of $326.71. The stock's 50 day simple moving average is $233.02 and its two-hundred day simple moving average is $232.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.86 and a quick ratio of 0.86.

Autodesk (NASDAQ:ADSK - Get Free Report) last released its 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. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%.The company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 EPS. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Research analysts predict that Autodesk will post 9.72 earnings per share for the current year.

Insider Activity at Autodesk

In related news, Director John Cahill purchased 2,000 shares of the firm's stock in a transaction dated Tuesday, June 23rd. The stock was purchased at an average price of $189.20 per share, with a total value of $378,400.00. Following the completion of the purchase, the director owned 4,000 shares of the company's stock, valued at approximately $756,800. The trade was a 100.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ADSK. The Manufacturers Life Insurance Company lifted its holdings in shares of Autodesk by 116.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 444,419 shares of the software company's stock worth $86,404,000 after buying an additional 239,524 shares during the period. National Pension Service increased its stake in shares of Autodesk by 4.1% during the second quarter. National Pension Service now owns 849,876 shares of the software company's stock valued at $165,233,000 after buying an additional 33,448 shares during the period. WINTON GROUP Ltd raised its holdings in shares of Autodesk by 438.6% in the second quarter. WINTON GROUP Ltd now owns 35,659 shares of the software company's stock valued at $6,933,000 after acquiring an additional 29,038 shares in the last quarter. GFG Capital LLC raised its holdings in shares of Autodesk by 12.8% in the second quarter. GFG Capital LLC now owns 10,619 shares of the software company's stock valued at $2,065,000 after acquiring an additional 1,204 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in Autodesk by 24.8% in the second quarter. IFP Advisors Inc now owns 2,380 shares of the software company's stock worth $463,000 after acquiring an additional 473 shares during the period. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

About Autodesk

Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.

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