Rothschild & Co Redburn Issues Pessimistic Forecast for Autodesk (NASDAQ:ADSK) Stock Price

Key Points

• Rothschild & Co Redburn cut Autodesk’s price target from $375 to $360, while keeping a buy rating on the stock. The new target still implies nearly 49% upside from the current share price.
• Autodesk reported better-than-expected quarterly results, with EPS of $2.99 versus estimates of $2.84 and revenue of $1.93 billion versus $1.89 billion expected. Revenue rose 18.4% year over year.
• Despite the latest analyst cuts, Autodesk shares were up 4.5% on the day to $241.73. Overall, analysts still rate the stock a Moderate Buy with a consensus price target of $327.21.

Autodesk (NASDAQ:ADSK - Get Free Report) had its price objective cut by Rothschild & Co Redburn from $375.00 to $360.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has a "buy" rating on the software company's stock. Rothschild & Co Redburn's price target would indicate a potential upside of 48.93% from the stock's current price.

ADSK has been the topic of a number of other research reports. Morgan Stanley reduced their target price on Autodesk from $350.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, May 26th. Zacks Research cut Autodesk from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 14th. KeyCorp cut their price target on shares of Autodesk from $365.00 to $341.00 and set an "overweight" rating on the stock in a research report on Thursday, May 21st. Bank of America reissued a "buy" rating and set a $300.00 price objective on shares of Autodesk in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus decreased their price objective on shares of Autodesk from $375.00 to $285.00 and set a "buy" rating for the company in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Autodesk presently has an average rating of "Moderate Buy" and a consensus price target of $327.21.

Autodesk Trading Up 4.5%

Shares of ADSK traded up $10.42 on Monday, reaching $241.73. 540,172 shares of the company's stock were exchanged, compared to its average volume of 2,164,567. The company has a current ratio of 0.83, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $51.04 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. The business has a 50 day moving average price of $238.52 and a two-hundred day moving average price of $260.14. Autodesk has a 12 month low of $214.10 and a 12 month high of $329.09.

Autodesk (NASDAQ:ADSK - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.84 by $0.15. Autodesk had a net margin of 19.49% and a return on equity of 57.14%. The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $2.29 earnings per share. The business's revenue for the quarter was up 18.4% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts anticipate that Autodesk will post 9.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Stacy J. Smith acquired 3,435 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, the director directly owned 26,517 shares of the company's stock, valued at approximately $6,129,934.89. The trade was a 14.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Autodesk

A number of large investors have recently added to or reduced their stakes in ADSK. Vanguard Group Inc. grew its holdings in shares of Autodesk by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 21,493,167 shares of the software company's stock worth $6,362,192,000 after buying an additional 78,928 shares in the last quarter. State Street Corp lifted its stake in Autodesk by 0.7% in the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company's stock valued at $3,006,818,000 after acquiring an additional 70,053 shares in the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 123,691 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Autodesk by 5.2% during 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Autodesk during the 4th quarter worth approximately $867,480,000. Institutional investors own 90.24% of the company's stock.

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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