Autodesk (NASDAQ:ADSK) Upgraded at The Goldman Sachs Group

Autodesk (NASDAQ:ADSK) was upgraded by research analysts at The Goldman Sachs Group to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on ADSK. Jefferies Financial Group upgraded Autodesk to a “strong-buy” rating in a report on Tuesday, May 26th. Piper Sandler reduced their target price on Autodesk from $383.00 to $369.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Robert W. Baird decreased their target price on Autodesk from $355.00 to $312.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Barclays lowered their target price on shares of Autodesk from $315.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Bank of America restated a “buy” rating and issued a $300.00 price target on shares of Autodesk in a report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.07.

Autodesk Stock Performance

Shares of NASDAQ:ADSK opened at $251.59 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.78. Autodesk has a 12 month low of $185.50 and a 12 month high of $329.09. The company has a market capitalization of $53.09 billion, a price-to-earnings ratio of 36.67, a PEG ratio of 1.58 and a beta of 1.29. The firm’s 50-day moving average is $214.99 and its 200 day moving average is $232.37.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 28th. The software company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.15. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.89 billion. Autodesk had a return on equity of 57.14% and a net margin of 19.49%.The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.29 earnings per share. Autodesk has set its FY 2027 guidance at 12.400-12.650 EPS and its Q2 2027 guidance at 3.100-3.140 EPS. Research analysts predict that Autodesk will post 9.64 EPS for the current year.

Insiders Place Their Bets

In other news, Director John T. Cahill acquired 2,000 shares of Autodesk stock in a transaction on Tuesday, June 23rd. The shares were 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. This trade represents a 100.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stacy J. Smith bought 3,435 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $231.17 per share, with a total value of $794,068.95. Following the completion of the transaction, the director owned 26,517 shares in the company, valued at $6,129,934.89. This represents a 14.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 7,935 shares of company stock worth $1,666,644 in the last ninety days. 0.14% of the stock is owned by company insiders.

Institutional Trading of Autodesk

Hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC bought a new stake in shares of Autodesk in the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Autodesk in the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Autodesk during the fourth quarter valued at approximately $25,000. Archer Investment Corp increased its holdings in Autodesk by 112.2% during the fourth quarter. Archer Investment Corp now owns 87 shares of the software company’s stock valued at $26,000 after buying an additional 46 shares during the period. Finally, Prosperity Bancshares Inc purchased a new position in Autodesk during the fourth quarter valued at approximately $27,000. 90.24% of the stock is owned by hedge funds and other 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.