Analyst Ratings and Financial Health of Autodesk Inc. (ADSK) Stock

Autodesk Inc. (NASDAQ: ADSK), a creator of engineering software, released a good report late last week and garnered positive Wall Street recommendations. As a consequence, in May 27 trading, ADSK climbed 10.3 percent to $211.38.

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Autodesk’s sales rose 18 percent year over year to $1.17 billion in the third quarter of fiscal 2023. GAAP profits per diluted share were $1.43, with $422 million in free cash flow. Autodesk Inc. (ADSK) benefits from its diverse industry presence: the diversity of targeted markets helps the company to retain stability throughout global economic downturns.

A 17% rise in ADSK subscription revenue to $1.08 billion was an encouraging indicator. The firm was one of the first to begin and successfully complete the shift to the SaaS model. The subscriber retention rate ranges from 100 to 110 percent.

Credit Suisse analysts expect that Autodesk Inc. (ADSK) consumers who are now using the company’s free solutions will be able to upgrade to a premium subscription in the next 5-7 years. Autodesk will be able to sustain long-term revenue growth as a result of this. Credit Suisse boosted its target price for ADSK shares to $355 with an “above the market” rating in light of this.

Last quarter’s results, according to Blair Abernathy, an analyst at Rosenblatt Securities, demonstrated Autodesk’s profitability resiliency amid macroeconomic uncertainty and the company’s exit from certain areas.

Due to continuous subscription demand and an expanded variety of solutions, Rosenblatt believes Autodesk Inc. (ADSK) will be able to continue to grow. As a consequence, Rosenblatt raised his target price for ADSK to $285 and recommended that investors buy the stock.

A closer examination of Autodesk Inc.’s (ADSK) stock price reveals that it is now trading 21.55 percent higher than its three-month low. In a broader sense, the ADSK stock is currently trading 38.62% below its 52-week high and 21.55 percent above its 52-week low.