Autodesk (NASDAQ:ADSK) Stock Dropped to “Hold” by Wall Street Zen

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

ADSK has been the subject of several other reports. UBS Group reiterated a “buy” rating on shares of Autodesk in a research report on Thursday, September 24th. BNP Paribas Exane boosted their target price on shares of Autodesk from $295.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 28th. KeyCorp reaffirmed an “overweight” rating on shares of Autodesk in a research report on Wednesday, August 19th. Guggenheim reiterated a “buy” rating and set a $283.00 price target on shares of Autodesk in a report on Monday, September 21st. Finally, DA Davidson set a $325.00 price objective on Autodesk in a research report on Friday, August 28th. One investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $316.84.

Autodesk Stock Up 3.3%

Shares of ADSK opened at $257.91 on Monday. The company has a market capitalization of $53.90 billion, a PE ratio of 28.12, a PEG ratio of 1.61 and a beta of 1.33. Autodesk has a 12 month low of $185.50 and a 12 month high of $320.00. The stock’s 50-day moving average price is $232.53 and its two-hundred day moving average price is $234.08. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $2.62 EPS. The business’s revenue 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. On average, analysts anticipate that Autodesk will post 9.70 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Autodesk during the 2nd quarter worth approximately $4,828,855,000. Bank of America Corp DE bought a new position in Autodesk in the 2nd quarter valued at $576,727,000. Legal & General Group Plc bought a new position in Autodesk in the 2nd quarter valued at $422,928,000. Deutsche Bank AG purchased a new position in shares of Autodesk during the 2nd quarter valued at $322,851,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Autodesk during the 2nd quarter valued at $228,908,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

About Autodesk

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.