Autodesk (NASDAQ:ADSK) Raised to “Buy” at Loop Capital

Autodesk (NASDAQ:ADSK) was upgraded by research analysts at Loop Capital from a “hold” rating to a “buy” rating in a research note issued on Friday, FinViz reports. The firm presently has a $310.00 price target on the software company’s stock. Loop Capital‘s price target would suggest a potential upside of 19.47% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Autodesk in a report on Thursday, September 17th. DA Davidson set a $325.00 target price on Autodesk in a research report on Friday, August 28th. New Street Research set a $277.00 price target on Autodesk in a research note on Thursday, August 20th. Barclays restated an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research note on Monday. Twenty-seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.97.

Autodesk Stock Performance

ADSK opened at $259.48 on Friday. The stock has a market capitalization of $54.23 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 1.72 and a beta of 1.27. The company has a fifty day moving average of $233.67 and a 200 day moving average of $234.00. Autodesk has a fifty-two week low of $185.50 and a fifty-two week high of $320.00. 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 announced its quarterly earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. Autodesk’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 EPS. 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, sell-side analysts forecast that Autodesk will post 9.70 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Autodesk

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Autodesk in the second quarter worth about $4,828,855,000. State Street Corp raised its position in Autodesk by 2.9% during the second quarter. State Street Corp now owns 10,268,172 shares of the software company’s stock valued at $1,996,338,000 after purchasing an additional 284,621 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Autodesk by 5.2% in 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 purchasing an additional 155,255 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake 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 purchasing an additional 333,485 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Autodesk in the 2nd quarter worth approximately $576,727,000. 90.24% of the stock is owned by hedge funds and other institutional investors.

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.