Autodesk (NASDAQ:ADSK) Shares Gap Down After Analyst Downgrade

Autodesk, Inc. (NASDAQ:ADSK) shares gapped down before the market opened on Friday after Piper Sandler lowered their price target on the stock from $369.00 to $338.00. The stock had previously closed at $270.58, but opened at $261.16. Piper Sandler currently has an overweight rating on the stock. Autodesk shares last traded at $254.98, with a volume of 497,622 shares changing hands.

A number of other research analysts also recently issued reports on the company. Rothschild & Co Redburn dropped their price objective on Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. KeyCorp reiterated an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. BMO Capital Markets dropped their price target on Autodesk from $279.00 to $262.00 and set a “market perform” rating on the stock in a research note on Friday, May 29th. BTIG Research restated a “buy” rating and set a $300.00 price target on shares of Autodesk in a report on Friday. Finally, Wells Fargo & Company reduced their price objective on shares of Autodesk from $350.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Autodesk presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.65.

Insiders Place Their Bets

In other Autodesk news, EVP Janesh Moorjani purchased 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $197.67 per share, for a total transaction of $494,175.00. Following the purchase, the executive vice president owned 50,993 shares of the company’s stock, valued at $10,079,786.31. This trade represents a 5.16% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John T. Cahill acquired 2,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was acquired at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the completion of the purchase, the director directly owned 4,000 shares of the company’s stock, valued at approximately $756,800. This represents a 100.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.14% of the company’s stock.

Autodesk News Summary

Here are the key news stories impacting Autodesk this week:

• Positive Sentiment: Autodesk reported fiscal Q2 2027 revenue of $2.05 billion, up 16.1% year over year and above the $2.01 billion consensus estimate. Adjusted EPS of $3.30 also exceeded expectations of $3.12, compared with $2.62 in the prior-year quarter. Autodesk fiscal 2027 second-quarter results
• Positive Sentiment: Management raised its fiscal 2027 outlook, including EPS guidance of $12.52-$12.60 versus the $12.02 analyst consensus and revenue guidance of approximately $8.6-$8.7 billion versus an $8.2 billion consensus. The company also increased its billings outlook to $8.575-$8.65 billion following the MaintainX acquisition. Autodesk raises fiscal 2027 billings outlook
• Positive Sentiment: Analysts remain broadly constructive. BTIG reaffirmed a Buy rating with a $300 price target, Bank of America maintained its Buy rating and $300 target, and Piper Sandler retained an Overweight rating despite reducing its target to $338. Autodesk analyst rating update
• Neutral Sentiment: Autodesk will present at Citi’s Global TMT Conference and Goldman Sachs’ Communacopia + Technology Conference on September 9, potentially giving management an opportunity to discuss AI initiatives, subscription momentum and the MaintainX integration. Autodesk investor conference announcement
• Negative Sentiment: Fiscal Q3 adjusted EPS guidance of $3.04-$3.09 came in below some Wall Street expectations, overshadowing the quarterly beat. Investors are also weighing potential disruption from generative AI tools, contributing to the extended-hours decline. Autodesk quarterly profit outlook
• Negative Sentiment: BMO Capital Markets raised its price target to $283 but assigned a Market Perform rating, signaling limited near-term upside from the current valuation. Piper Sandler also lowered its target from $369 to $338, reflecting more cautious expectations even while remaining bullish.

Hedge Funds Weigh In On Autodesk

Hedge funds have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP boosted its holdings in 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 purchasing an additional 58,285 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Autodesk by 158.4% in the 1st quarter. SG Americas Securities LLC now owns 272,548 shares of the software company’s stock worth $65,248,000 after buying an additional 167,064 shares during the last quarter. Man Group plc boosted its stake in shares of Autodesk by 28.6% in the 4th quarter. Man Group plc now owns 1,229,946 shares of the software company’s stock worth $364,076,000 after buying an additional 273,765 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Autodesk in the second quarter valued at approximately $322,851,000. Finally, Seilern Investment Management Ltd grew its holdings in shares of Autodesk by 11.0% in the second quarter. Seilern Investment Management Ltd now owns 227,675 shares of the software company’s stock valued at $44,265,000 after acquiring an additional 22,547 shares in the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Stock Down 6.0%

The stock has a 50-day moving average of $224.60 and a 200 day moving average of $232.09. The company has a market capitalization of $53.66 billion, a PE ratio of 37.07, a P/E/G ratio of 1.56 and a beta of 1.29. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.18. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.62 earnings per share. 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, Inc. will post 9.7 EPS for the current year.

About Autodesk

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.