Autodesk (NASDAQ:ADSK – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $330.00 price objective on the software company’s stock. Rosenblatt Securities’ price target points to a potential upside of 26.60% from the company’s current price.
Several other research firms have also recently commented on ADSK. Rothschild & Co Redburn reduced their target price on Autodesk from $375.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Weiss Ratings downgraded Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 10th. BNP Paribas Exane upped their price objective on shares of Autodesk from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday. New Street Research set a $277.00 target price on shares of Autodesk in a research note on Thursday, August 20th. Finally, KeyCorp reissued an “overweight” rating on shares of Autodesk in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Autodesk presently has a consensus rating of “Moderate Buy” and an average price target of $321.07.
Get Our Latest Analysis on ADSK
Autodesk Price Performance
Autodesk (NASDAQ:ADSK – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The software company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.18. Autodesk had a net margin of 21.08% and a return on equity of 58.63%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the business earned $2.62 earnings per share. Autodesk’s revenue was up 16.1% compared to the same quarter last year. 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, analysts predict that Autodesk will post 9.7 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director John T. Cahill bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $189.20 per share, for a total transaction of $378,400.00. Following the acquisition, the director directly owned 4,000 shares of the company’s stock, valued at $756,800. The trade was a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Janesh Moorjani purchased 2,500 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was bought 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 approximately $10,079,786.31. This trade represents a 5.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.14% of the stock is owned by company insiders.
Institutional Investors Weigh In On Autodesk
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Autodesk by 18,825.0% during the second quarter. California State Teachers Retirement System now owns 58,596,827 shares of the software company’s stock valued at $11,392,395,000 after acquiring an additional 58,287,201 shares during the last quarter. BlackRock Inc. purchased a new stake in Autodesk in the second quarter worth $4,828,855,000. State Street Corp increased its position in Autodesk by 0.7% during the 4th quarter. State Street Corp now owns 10,157,826 shares of the software company’s stock valued at $3,006,818,000 after purchasing an additional 70,053 shares during the period. Geode Capital Management LLC lifted its position in shares of Autodesk by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,682,041 shares of the software company’s stock worth $1,677,404,000 after purchasing an additional 123,691 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Autodesk by 5.2% during the first 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 during the period. 90.24% of the stock is currently owned by institutional investors.
About Autodesk
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.
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