Autodesk (NASDAQ:ADSK) Rating Lowered to “Hold” at Wall Street Zen

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

A number of other analysts have also recently weighed in on the stock. Piper Sandler initiated coverage on shares of Autodesk in a report on Monday, September 28th. They set an “overweight” rating and a $300.00 price objective on the stock. Barclays restated an “overweight” rating on shares of Autodesk in a report on Wednesday, August 19th. BMO Capital Markets increased their target price 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. Rosenblatt Securities reiterated a “buy” rating and set a $330.00 price target on shares of Autodesk in a research note on Monday, August 31st. Finally, UBS Group reissued a “buy” rating on shares of Autodesk in a research report on Thursday, September 24th. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.84.

Autodesk Trading Down 2.2%

ADSK opened at $252.32 on Monday. Autodesk has a one year low of $185.50 and a one year high of $320.00. The company has a market cap of $52.73 billion, a P/E ratio of 29.92, a PEG ratio of 1.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $232.49 and its 200-day simple moving average is $234.04.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Thursday, August 27th. The software company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.18. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Autodesk had a return on equity of 58.63% and a net margin of 21.08%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company 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. As a group, equities research analysts expect that Autodesk will post 9.70 EPS for the current fiscal year.

Hedge Funds Weigh In On Autodesk

Institutional investors have recently modified their holdings of the business. Ethic Inc. grew its position in shares of Autodesk by 13.2% during the third quarter. Ethic Inc. now owns 36,039 shares of the software company’s stock worth $7,532,000 after buying an additional 4,206 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Autodesk by 12.1% in the third quarter. Pictet Asset Management Holding SA now owns 3,080,128 shares of the software company’s stock worth $643,514,000 after buying an additional 333,485 shares during the last quarter. Leelyn Smith LLC raised its holdings in Autodesk by 6.3% in the third quarter. Leelyn Smith LLC now owns 20,119 shares of the software company’s stock valued at $4,205,000 after acquiring an additional 1,199 shares in the last quarter. Alps Advisors Inc. raised its holdings in Autodesk by 7.9% in the third quarter. Alps Advisors Inc. now owns 6,493 shares of the software company’s stock valued at $1,357,000 after acquiring an additional 475 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Autodesk during the 3rd quarter valued at $475,000. 90.24% of the stock is owned by institutional investors and hedge funds.

Autodesk Company Profile

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.