Fintel reports that on September 3, 2024, HSBC upgraded their outlook for Autodesk (NasdaqGS:ADSK) from Hold to Buy.
Analyst Price Forecast Suggests 7.96% Upside
As of August 26, 2024, the average one-year price target for Autodesk is $278.36/share. The forecasts range from a low of $227.25 to a high of $325.50. The average price target represents an increase of 7.96% from its latest reported closing price of $257.83 / share.
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The projected annual revenue for Autodesk is 6,264MM, an increase of 7.91%. The projected annual non-GAAP EPS is 8.75.
What is the Fund Sentiment?
There are 2,148 funds or institutions reporting positions in Autodesk. This is an decrease of 39 owner(s) or 1.78% in the last quarter. Average portfolio weight of all funds dedicated to ADSK is 0.34%, an increase of 8.67%. Total shares owned by institutions increased in the last three months by 4.45% to 219,505K shares. 
The put/call ratio of ADSK is 0.89, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,759K shares representing 3.14% ownership of the company. In its prior filing, the firm reported owning 6,728K shares , representing an increase of 0.45%. The firm decreased its portfolio allocation in ADSK by 7.18% over the last quarter.
Loomis Sayles & Co L P holds 6,195K shares representing 2.87% ownership of the company. In its prior filing, the firm reported owning 6,135K shares , representing an increase of 0.97%. The firm decreased its portfolio allocation in ADSK by 49.23% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,490K shares representing 2.55% ownership of the company. In its prior filing, the firm reported owning 5,391K shares , representing an increase of 1.81%. The firm decreased its portfolio allocation in ADSK by 8.40% over the last quarter.
Ninety One UK holds 5,072K shares representing 2.35% ownership of the company. In its prior filing, the firm reported owning 3,963K shares , representing an increase of 21.86%. The firm increased its portfolio allocation in ADSK by 19.58% over the last quarter.
Geode Capital Management holds 4,936K shares representing 2.29% ownership of the company. In its prior filing, the firm reported owning 4,777K shares , representing an increase of 3.22%. The firm decreased its portfolio allocation in ADSK by 6.83% over the last quarter.
Autodesk Background Information
(This description is provided by the company.)
"Autodesk, Inc. makes software for people who make things. The company is a global leader in design and make software for architecture, engineering, construction, manufacturing, and media and entertainment industries. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers have built with its software. Autodesk exists to turn ideas into new realities that shape a thriving future. Its software and services harness emerging technologies—such as additive manufacturing (3D printing), artificial intelligence, generative design, and robotics—that give companies and individuals the power to work more quickly, effectively, and sustainably throughout the entire project lifecycle."
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This story originally appeared on Fintel.
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