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San Francisco, California-based Autodesk, Inc. (ADSK) provides 3D design, engineering, and entertainment technology solutions. With a market cap of $66.2 billion, Autodesk’s operations span the Americas, Europe, Middle East and Africa, and Asia Pacific.
Companies worth $10 billion or more are generally described as "large-cap stocks," Autodesk fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the software application industry. It serves various industries including architecture, construction, product design, entertainment, and more.
Autodesk stock recently touched its 52-week high of $326.62 on Nov. 25 and is currently trading 5.5% below that peak. ADSK stock soared 20.7% over the past three months outperforming the S&P 500 Index’s ($SPX) 10.6% gains during the same time frame.
Over the longer term, Autodesk has continued to outpace the S&P 500. Although ADSK's 26.7% gains in 2024 have slightly lagged behind SPX's 26.9% returns on a year-to-date basis, it has surged 37.7% over the past year, significantly outpacing SPX's 31.5% gains during the same time frame.
To confirm the bullish trend, ADSK has mostly traded above its 50-day and 200-day moving average since mid-June with slight fluctuations.
Despite reporting better-than-expected financials, Autodesk’s stock prices dipped 8.6% in the trading session after the release of its Q3 results on Nov. 26 as the company’s guidance fell below investors’ expectations. Meanwhile, the company also reported a 19.6% year-over-year increase in marketing and sales expenses to $525 million which resulted in operating margin contraction.
Nevertheless, the company’s overall results remained robust. Driven by strong renewal rates and subscription demand, Autodesk’s total net revenues surged 11% year-over-year to approximately $1.6 billion. Its non-GAAP EPS increased 4.8% compared to the year-ago quarter to $2.17. Following the initial dip, ADSK stock rebounded in the subsequent trading sessions and has maintained a positive momentum since then.
Autodesk has outperformed its competitor ANSYS, Inc.’s (ANSS) 5.6% decline on a YTD basis and 19.3% gains over the past year.
Among the 25 analysts covering the ADSK stock, the consensus rating is a “Moderate Buy.” The mean price target of $327.96 represents a 6.3% premium to current price levels.
