Autodesk (NASDAQ:ADSK) Receives “Buy” Rating from Argus

Autodesk (NASDAQ:ADSK)‘s stock had its “buy” rating reissued by equities research analysts at Argus in a report released on Wednesday, Benzinga reports. They presently have a $355.00 price target on the software company’s stock. Argus’ price objective suggests a potential upside of 43.32% from the company’s previous close.

A number of other research firms have also weighed in on ADSK. BMO Capital Markets raised their price target on shares of Autodesk from $262.00 to $283.00 and gave the company a “market perform” rating in a research report on Friday, August 28th. Berenberg Bank set a $333.00 price objective on shares of Autodesk in a research report on Tuesday. DA Davidson set a $325.00 price objective on shares of Autodesk in a research note on Friday. The Goldman Sachs Group started coverage on shares of Autodesk in a research report on Tuesday, August 11th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Weiss Ratings upgraded Autodesk from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.19.

Autodesk Trading Down 4.2%

Shares of Autodesk stock opened at $247.69 on Wednesday. The company has a market capitalization of $51.77 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 1.70 and a beta of 1.31. The stock has a fifty day simple moving average of $228.53 and a 200 day simple moving average of $232.43. Autodesk has a 12-month low of $185.50 and a 12-month high of $329.09. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, beating 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 58.63% and a net margin of 21.08%.The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $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. On average, sell-side analysts anticipate that Autodesk will post 9.66 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Janesh Moorjani bought 2,500 shares of the company’s stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $197.67 per share, for a total transaction of $494,175.00. Following the completion of the purchase, the executive vice president directly owned 50,993 shares in the company, valued at $10,079,786.31. The trade was a 5.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Cahill bought 2,000 shares of Autodesk stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average cost of $189.20 per share, with a total value of $378,400.00. Following the completion of the transaction, the director directly owned 4,000 shares in the company, valued at approximately $756,800. This trade represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Autodesk

Several institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new position in Autodesk during the third quarter valued at $25,000. Kemnay Advisory Services Inc. bought a new stake in shares of Autodesk in the fourth quarter valued at $25,000. Prosperity Bancshares Inc bought a new stake in shares of Autodesk in the fourth quarter valued at $27,000. Ascentis Independent Advisors purchased a new position in shares of Autodesk during the 1st quarter valued at $28,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Autodesk during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Autodesk Company Profile

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.