Autodesk (NASDAQ:ADSK) Stock Rating Raised to “Buy” at Wall Street Zen

Autodesk (NASDAQ:ADSK) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group upgraded shares of Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 price objective on the stock in a report on Thursday, September 17th. BNP Paribas Exane lifted 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. Rosenblatt Securities reissued a “buy” rating and issued a $330.00 price target on shares of Autodesk in a research report on Monday, August 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $305.00 price target on shares of Autodesk in a research note on Thursday, September 17th. Finally, New Street Research set a $277.00 price objective on Autodesk in a research note on Thursday, August 20th. Twenty-seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.97.

Autodesk Stock Performance

NASDAQ:ADSK opened at $264.42 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $234.20 and its 200 day simple moving average is $233.98. The stock has a market cap of $55.26 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27. Autodesk has a twelve month low of $185.50 and a twelve month high of $320.00.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business earned $2.62 EPS. The company’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. As a group, research analysts predict that Autodesk will post 9.70 EPS for the current year.

Institutional Trading of Autodesk

Several hedge funds have recently bought and sold shares of ADSK. BlackRock Inc. bought a new position in shares of Autodesk during the 2nd quarter valued at approximately $4,828,855,000. State Street Corp raised its position in shares of Autodesk by 2.9% during the 2nd quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock valued at $1,996,338,000 after buying an additional 284,621 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position 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 valued at $752,824,000 after buying an additional 155,255 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Autodesk by 12.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 3,080,128 shares of the software company’s stock valued at $643,514,000 after acquiring an additional 333,485 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Autodesk in the 2nd quarter valued at about $576,727,000. 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 designing, building, making, and creating digital media. Its tools support professionals and organizations across architecture, engineering, construction, manufacturing, and entertainment. The company’s products include AutoCAD for computer-aided design, Revit for building information modeling, Fusion for product design and manufacturing, and Maya and 3ds Max for 3D animation and visual effects. Autodesk also offers cloud services that help customers collaborate and manage design and construction projects.