Zacks Research Downgrades Autodesk (NASDAQ:ADSK) to Hold

Autodesk (NASDAQ:ADSK) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research analysts have also commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of Autodesk in a report on Wednesday, March 18th. JPMorgan Chase & Co. lifted their price target on Autodesk from $319.00 to $336.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wolfe Research lifted their price target on Autodesk from $330.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Loop Capital reduced their price target on Autodesk from $320.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Autodesk from $375.00 to $330.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.07.

Autodesk Stock Up 1.2%

NASDAQ ADSK opened at $236.62 on Thursday. Autodesk has a 52 week low of $214.10 and a 52 week high of $329.09. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. The business’s fifty day simple moving average is $241.37 and its 200-day simple moving average is $264.75. The firm has a market cap of $49.96 billion, a PE ratio of 45.16, a P/E/G ratio of 1.51 and a beta of 1.32.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, February 26th. The software company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.64 by $0.21. Autodesk had a return on equity of 53.51% and a net margin of 15.60%.The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the firm earned $2.29 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Autodesk has set its FY 2027 guidance at 12.290-12.560 EPS and its Q1 2027 guidance at 2.820-2.860 EPS. As a group, equities analysts anticipate that Autodesk will post 9.35 earnings per share for the current year.

Institutional Trading of Autodesk

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SummitTX Capital L.P. raised its holdings in Autodesk by 26.8% in the 1st quarter. SummitTX Capital L.P. now owns 4,529 shares of the software company’s stock valued at $1,084,000 after buying an additional 958 shares during the period. Lazard Asset Management LLC raised its holdings in Autodesk by 11.4% in the 1st quarter. Lazard Asset Management LLC now owns 1,248,808 shares of the software company’s stock valued at $298,965,000 after buying an additional 128,159 shares during the period. Castleark Management LLC purchased a new stake in Autodesk in the 1st quarter valued at about $7,646,000. Weiss Asset Management LP acquired a new position in Autodesk in the 1st quarter valued at about $8,536,000. Finally, OMERS ADMINISTRATION Corp grew its position in Autodesk by 5.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 47,464 shares of the software company’s stock valued at $11,363,000 after acquiring an additional 2,286 shares in the last quarter. 90.24% of the stock is currently owned by hedge funds and other institutional investors.

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.