Autodesk (NASDAQ:ADSK) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler began coverage on shares of Autodesk (NASDAQ:ADSK – Free Report) in a research report released on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $300.00 price target on the software company’s stock.

ADSK has been the subject of a number of other research reports. The Goldman Sachs Group raised Autodesk from a “hold” rating to an “outperform” rating and set a $265.00 target price for the company in a report on Thursday, September 17th. Weiss Ratings downgraded shares of Autodesk from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Rothschild & Co Redburn lowered their price target on shares of Autodesk from $375.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $305.00 price objective on shares of Autodesk in a research note on Thursday, September 17th. Finally, Wall Street Zen downgraded shares of Autodesk from a “buy” rating to a “hold” rating in a report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have assigned 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 price target of $316.84.

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Autodesk Price Performance

Autodesk stock opened at $207.19 on Monday. The company has a market capitalization of $43.30 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.39 and a beta of 1.31. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. Autodesk has a 12 month low of $185.50 and a 12 month high of $326.20. The stock’s 50 day moving average is $233.46 and its 200-day moving average is $229.71.

Autodesk (NASDAQ:ADSK – Get Free Report) last released its quarterly 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 during 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 firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last 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. Equities research analysts expect that Autodesk will post 9.71 EPS for the current year.

Institutional Investors Weigh In On Autodesk

A number of hedge funds have recently made changes to their positions in ADSK. BlackRock Inc. acquired a new position in Autodesk during the 2nd quarter worth about $4,828,855,000. State Street Corp increased its stake in shares of Autodesk by 2.9% in 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 buying an additional 284,621 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Autodesk by 46.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,989,372 shares of the software company’s stock valued at $884,884,000 after buying an additional 952,343 shares during the period. Bank of America Corp DE bought a new position in shares of Autodesk during the second quarter worth about $576,727,000. Finally, Pictet Asset Management Holding SA raised its position in shares of Autodesk by 30.6% during the second quarter. Pictet Asset Management Holding SA now owns 2,746,643 shares of the software company’s stock worth $534,014,000 after acquiring an additional 643,267 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Autodesk Company Profile

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Autodesk, Inc develops software and cloud-based services for people and organizations that design, make and manage products, buildings, infrastructure and digital media. Its tools are used across architecture, engineering, construction, manufacturing, product design, media and entertainment, and related industries.

The company is best known for AutoCAD, its computer-aided design platform. Its broader portfolio includes Revit for building information modeling, Civil 3D for civil engineering, Inventor and Fusion for product design and manufacturing, Maya and 3ds Max for animation and visual effects, and construction-focused products such as Autodesk Construction Cloud.

Further Reading

Analyst Recommendations for Autodesk (NASDAQ:ADSK)

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