Autodesk (NASDAQ:ADSK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Autodesk (NASDAQ:ADSK) from a hold rating to a buy rating in a report released on Sunday,Wall Street Zen reports.

Several other brokerages also recently weighed in on ADSK. Argus reaffirmed a “buy” rating and set a $355.00 price target on shares of Autodesk in a report on Wednesday, September 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $330.00 price objective on shares of Autodesk in a research note on Monday, August 31st. Robert W. Baird raised their price objective on shares of Autodesk from $312.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, August 21st. UBS Group restated a “buy” rating on shares of Autodesk in a research report on Thursday, September 24th. Finally, The Goldman Sachs Group upgraded shares of Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 target price on the stock in a research note on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Autodesk Price Performance

Shares of Autodesk stock opened at $242.10 on Friday. The stock has a market cap of $50.60 billion, a P/E ratio of 28.94, a P/E/G ratio of 1.65 and a beta of 1.33. 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 stock’s fifty day moving average is $232.76 and its 200 day moving average is $234.63. Autodesk has a one year low of $185.50 and a one year high of $320.00.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. Autodesk’s revenue for the quarter was up 16.1% on a year-over-year basis. Autodesk has set its FY 2027 guidance at 12.520-12.600 EPS and its Q3 2027 guidance at 3.040-3.090 EPS. Sell-side analysts anticipate that Autodesk will post 9.70 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantinno Capital Management LP grew its stake in shares of Autodesk by 17.8% during the first quarter. Quantinno Capital Management LP now owns 385,572 shares of the software company’s stock worth $92,306,000 after acquiring an additional 58,285 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Autodesk during the second quarter valued at about $322,851,000. Green Alpha Advisors LLC purchased a new position in shares of Autodesk in the 2nd quarter valued at approximately $561,000. Seilern Investment Management Ltd raised its position in shares of Autodesk by 11.0% in the 2nd quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock valued at $44,265,000 after purchasing an additional 22,547 shares during the last quarter. Finally, State Street Corp boosted its stake in Autodesk by 2.9% in the 2nd quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock worth $1,996,338,000 after purchasing an additional 284,621 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors.

Autodesk Company Profile

Autodesk, Inc develops software and cloud-based services for the architecture, engineering, construction, manufacturing, media and entertainment industries. Its products help customers design, visualize, simulate and manage projects, products and digital content throughout their lifecycles.

The company’s portfolio includes 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 and 3ds Max for animation, modeling and visual effects.