Citigroup Issues Positive Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Key Points

• Citigroup raised its price target on Autodesk to $252 from $246 while keeping a neutral rating, implying about 12% upside from the stock’s current price.
• Autodesk beat quarterly expectations with EPS of $2.99 and revenue of $1.93 billion, both above estimates, and revenue rose 18.4% year over year.
• Despite the positive earnings and analyst support, ADSK shares fell in Friday trading to $224.88, while Wall Street’s overall view remains “Moderate Buy” with a consensus target of $327.75.

Autodesk (NASDAQ:ADSK - Get Free Report) had its target price hoisted by equities research analysts at Citigroup from $246.00 to $252.00 in a research report issued on Friday,MarketScreener reports. The firm presently has a "neutral" rating on the software company's stock. Citigroup's price objective would indicate a potential upside of 12.06% from the stock's current price.

ADSK has been the subject of a number of other research reports. Barclays reduced their price objective on Autodesk from $315.00 to $300.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. BMO Capital Markets lowered their target price on shares of Autodesk from $279.00 to $262.00 and set a "market perform" rating on the stock in a research report on Friday. Piper Sandler cut their target price on shares of Autodesk from $383.00 to $369.00 and set an "overweight" rating on the stock in a report on Friday. Robert W. Baird decreased their price target on shares of Autodesk from $355.00 to $312.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, Wells Fargo & Company lowered their price objective on shares of Autodesk from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $327.75.

Autodesk Stock Performance

Shares of ADSK stock traded down $16.08 during mid-day trading on Friday, hitting $224.88. 1,413,250 shares of the stock were exchanged, compared to its average volume of 2,118,657. The stock's fifty day simple moving average is $238.86 and its two-hundred day simple moving average is $260.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 0.85. Autodesk has a 12-month low of $214.10 and a 12-month high of $329.09. The stock has a market capitalization of $47.48 billion, a price-to-earnings ratio of 42.91, a P/E/G ratio of 1.53 and a beta of 1.32.

Autodesk (NASDAQ:ADSK - Get Free Report) last posted its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The business's quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 EPS. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. On average, analysts forecast that Autodesk will post 9.35 EPS for the current year.

Institutional Investors Weigh In On Autodesk

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Autodesk by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock valued at $6,362,192,000 after buying an additional 78,928 shares during the last quarter. State Street Corp raised its position in Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock worth $3,006,818,000 after buying an additional 70,053 shares during the last quarter. Geode Capital Management LLC raised its position in Autodesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company's stock worth $1,677,404,000 after buying an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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. Finally, Norges Bank acquired a new stake in shares of Autodesk in the 4th quarter worth $867,480,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Autodesk

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk delivered better-than-expected Q1 results, with revenue of $1.93 billion and adjusted EPS of $2.99 both topping estimates, while revenue rose 18.4% year over year. AUTODESK, INC. ANNOUNCES FISCAL 2027 FIRST QUARTER RESULTS
• Positive Sentiment: The company raised guidance for fiscal 2027 and Q2, signaling management confidence in continued growth and profitability. AUTODESK, INC. ANNOUNCES FISCAL 2027 FIRST QUARTER RESULTS
• Positive Sentiment: BTIG reaffirmed its Buy rating and set a $300 price target, while Piper Sandler maintained Overweight, despite trimming its target to $369, reinforcing Wall Street’s bullish long-term view. Benzinga rating update
• Positive Sentiment: Autodesk announced it will present at upcoming investor conferences, which can help keep investors focused on the company’s strategy and outlook. Autodesk to present at upcoming investor conferences
• Neutral Sentiment: Autodesk’s planned $3.6 billion acquisition of MaintainX could expand its operations platform and AI ambitions over time, but it also adds integration and execution risk that may be keeping some investors cautious. Autodesk to acquire MaintainX, advancing unified platform in operations
• Negative Sentiment: Some traders appear to be focusing on the acquisition headline rather than the earnings beat, with reports noting the stock slipped in premarket trading despite strong fundamentals. Why Autodesk (ADSK) Stock Tumbled 5% Despite Strong Earnings Results

Autodesk Company Profile

Autodesk, Inc NASDAQ: ADSK is a software company that develops design and creation tools for the architecture, engineering and construction (AEC), manufacturing, and media and entertainment industries. Headquartered in San Rafael, California, the company was founded in 1982 and is best known for pioneering CAD (computer-aided design) software. Autodesk sells products and services to a global customer base, including architects, engineers, contractors, product designers, and content creators.

The company's product portfolio includes industry-standard design and modeling applications such as AutoCAD, Revit, Inventor, Fusion 360, Maya and 3ds Max, as well as cloud-based collaboration and project management platforms like BIM 360 and Autodesk Construction Cloud.

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