Autodesk (NASDAQ:ADSK) Earns Buy Rating from BTIG Research

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reaffirmed by BTIG Research in a research report issued on Friday, Benzinga reports. They currently have a $300.00 target price on the software company’s stock. BTIG Research’s target price suggests a potential upside of 41.94% from the stock’s current price.

Several other brokerages have also recently issued reports on ADSK. Berenberg Bank set a $333.00 target price on Autodesk in a research report on Tuesday, September 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $305.00 target price on shares of Autodesk in a research report on Thursday, September 17th. The Goldman Sachs Group raised Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 target price on the stock in a research report on Thursday, September 17th. Argus reaffirmed a “buy” rating and set a $355.00 target price on shares of Autodesk in a research report on Wednesday, September 2nd. Finally, Citigroup lifted their target price on Autodesk from $269.00 to $276.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $318.03.

Autodesk Stock Down 2.7%

Shares of NASDAQ ADSK traded down $5.80 during midday trading on Friday, hitting $211.35. 2,105,174 shares of the stock traded hands, compared to its average volume of 2,321,619. The company has a market cap of $44.17 billion, a PE ratio of 27.34, a P/E/G ratio of 1.45 and a beta of 1.31. Autodesk has a one year low of $185.50 and a one year high of $326.20. The business has a 50 day moving average price of $233.85 and a two-hundred day moving average price of $230.40. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.12 by $0.18. The firm had revenue of $2.05 billion during 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $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. On average, equities analysts predict that Autodesk will post 9.71 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ADSK. Andra AP fonden boosted its position in Autodesk by 13.0% in the second quarter. Andra AP fonden now owns 81,902 shares of the software company’s stock worth $15,923,000 after purchasing an additional 9,440 shares during the last quarter. State Street Corp boosted its position in Autodesk by 2.9% in the second 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 during the last quarter. The Manufacturers Life Insurance Company boosted its position in Autodesk by 116.9% in the second quarter. The Manufacturers Life Insurance Company now owns 444,419 shares of the software company’s stock worth $86,404,000 after purchasing an additional 239,524 shares during the last quarter. National Pension Service boosted its position in Autodesk by 4.1% in the second quarter. National Pension Service now owns 849,876 shares of the software company’s stock worth $165,233,000 after purchasing an additional 33,448 shares during the last quarter. Finally, WINTON GROUP Ltd boosted its position in Autodesk by 438.6% in the second quarter. WINTON GROUP Ltd now owns 35,659 shares of the software company’s stock worth $6,933,000 after purchasing an additional 29,038 shares during the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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.