Gain detailed insights into the trading activity of Congress members for Autodesk on our government trades page. Stay updated on how elected officials are investing in ADSK.

Autodesk - Government Trades

Autodesk

Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.

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Top performers last week were SRPT (+29.50%), SIRI (+16.73%), TOST (+15.57%), GILD (+12.62%), CHWY (+10.59%), ACN (+9.80%), DKNG (+9.69%), DELL (+8.19%), ADSK (+7.99%), and GFI (+7.15%).

DraftKings And Dell Were Among The 10 Biggest Large Cap Stock Gainers Last Week (June 16-June 22): Are These In Your Portfolio?

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Technology sector dominates growth stocks, boosted by strong earnings and investor confidence. Value stocks struggle due to less impressive performance and subdued earnings expectations. Growth outperforming value by 7.9 percentage points, driven by chipmakers and top tech stocks.

Growth Stocks Leave Value Stocks In The Dust: 4 Reasons For Biggest Monthly Lead In Over A Year

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Aaron&#39;s, Mirum Pharmaceuticals, Primo Water And Other Big Stocks Moving Higher On Monday

Interior of the new reimagined Autodesk Gallery in San Francisco, CA.

Autodesk Inc (NASDAQ:ADSK) shares are trading higher Monday after activist investor Starboard Value purchased a stake of more than $500 million in the company and wrote a letter to shareholders pushing for changes.

Autodesk Stock Jumps As Activist Investor Pushes For Margin Improvement, Board Changes: The Details

Stocks Photo by Phongphan on Shutterstock

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$BTC

U.S. stocks are gearing up for a cautious start following last week’s record run, with the index futures currently showing mixed sentiment. Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market.

Wall Street Set For Cautious Start After Record Run Last Week: Fed Speeches, Manufacturing Data In Focus, Expert Flags Key Stock Catalyst

Southwest Gas Holdings Inc.

Global

Starboard Value, an activist investor, has reportedly acquired a significant stake in Autodesk Inc and advocates for changes within the company.

AutoCAD-Maker Autodesk Receives $500M Investment From Starboard Value, Activist Investor Demands Changes: Report (UPDATED)

Wall Street bull

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$DOGE

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SPDR Dow Jones Industrial Average ETF Trust

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iShares Trust Barclays 20+ Year Treasury Bond Fund

TSLA

A lower-than-expected inflation report for May ignited a bullish frenzy on Wall Street, with investors increasing their bets on rate cuts, bolstered by growing confidence that the Federal Reserve will ease its policy stance later this year as price pressures trend 

Bulls Push Wall Street To Record Highs On Declining Inflation; Tech, Real Estate, Small Caps Surge Ahead Of Fed Meeting: What&#39;s Driving Markets Wednesday?

Audit.Business.Businessman

Price Target

Reiteration

Goldman Sachs analyst maintains Sell rating on AutoDesk Inc with lowered price target of $225. Believes company has strong competitive positioning and may achieve 40% operating margins in long term. Concerns about sustainability of FCF due to internal investigation.

Goldman Sachs Analyst Questions Autodesk&#39;s Revenue Growth And Total Addressable Market Targets

Uber

CIEN

MREO

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Uber To Rally Around 38%? Here Are 10 Top Analyst Forecasts For Wednesday

Autodesk shares are trading lower Tuesday after the company reported its first-quarter financial results. Also, a purported stockholder derivative complaint was filed in the U.S. District Court that named the directors and Chief Strategy Officer as defendants and the company as a nominal defendant.

What&#39;s Going On With Autodesk Stock After Earnings?

Autodesk Inc

Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) has outperformed the market over the past 20 years by 4.78% on an annualized basis producing an average annual return of 12.96%. Currently, Autodesk has a market capitalization of $51.90 billion. 
Buying $1000 In ADSK: If an investor had bought $1000 of ADSK stock 20 years ago, it would be worth $11,377.80 today based on a price of $240.81 for ADSK at the time of writing.
<h3>Autodesk's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719338476_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Autodesk 20 Years Ago Would Be Worth This Much Today

Hedge Funds

General

Starboard Value Issues Letter To Autodesk's Board Urging Transparency Increase And Improved Governance And Operations

Autodesk Acquires Datum360; Autodesk's AEC Data Model API Is Now Generally Available

These large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) shares increased 29.50% after the company announced FDA approval of an expansion to the labeled indication for ELEVIDYS to include individuals with Duchenne muscular dystrophy with a confirmed mutation in the <a href="https://www.benzinga.com//node/39430498" target="_blank" rel="noreferrer noopener">DMD gene who are at least 4 years of age</a>. Also, multiple firms raised their <a href="https://www.benzinga.com/quote/srpt/analyst-ratings" target="_blank" rel="noreferrer noopener">respective price targets on the stock</a>.</li>
<li>Sirius XM Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) <a href="https://www.benzinga.com//node/39359482" target="_blank" rel="noreferrer noopener">shares gained 16.73%</a> in the last week.</li>
<li>Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) shares <a href="https://www.benzinga.com//node/39386379" target="_blank" rel="noreferrer noopener">upped 15.57%</a> in the last week.</li>
<li>Gilead Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) shares were up 12.62% on continued strength <a href="https://www.benzinga.com//node/39435732" target="_blank" rel="noreferrer noopener">following positive Phase 3 HIV data</a>.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) stock jumped 10.59%. The stock may be up after retail purchases <a href="https://www.benzinga.com//node/39385252" target="_blank" rel="noreferrer noopener">at online outlets rose in May</a>.</li>
<li>Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) stock increased 9.80% after the company <a href="https://www.benzinga.com//node/39410240" target="_blank" rel="noreferrer noopener">reported third quarter results</a>. Several analysts <a href="https://www.benzinga.com/quote/acn/analyst-ratings" target="_blank" rel="noreferrer noopener">cut their price forecasts</a>.</li>
<li>DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) shares advanced 9.69% in the last week. This surge comes on the heels of a pivotal decision by the U.S. Supreme Court that has significant implications for the future of online sports betting in Florida and optimism that taxes will not be introduced into <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39316935/draftkings-stock-can-overcome-wall-of-worry-around-various-regulatory-risks-analyst">New Jersey's 2025 budget, which needs to be finalized by June 30.</a></li>
<li>Dell Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) shares gained 8.19% in the last week after Elon Musk <a href="http://Dell shares are trading higher after Elon Musk said the company is assembling half of the racks that are going into the supercomputer that xAI is building.">said the company</a> is assembling half of the racks that are going into the supercomputer that xAI is building.</li>
<li>Autodesk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) shares gained 7.99% following <a href="https://www.benzinga.com//node/39357211">a report suggesting</a> that Starboard has a $500 million stake in the company.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares rose 7.15%. Shares of gold stocks are trading higher <a href="https://www.benzinga.com//node/39416585" target="_blank" rel="noreferrer noopener">amid a rise in the price of gold</a>.</li>
</ol>
Photo via Shutterstock
Also Read: <a href="https://www.benzinga.com/news/24/06/39447506/gamestop-and-first-solar-were-among-the-10-biggest-large-cap-losers-last-week-june-16-june-22-are-th">GameStop And First Solar Were Among The 10 Biggest Large Cap Losers Last Week (June 16-June 22): Are These In Your Portfolio?</a>

Growth stocks are experiencing a remarkable resurgence, posting their best month in over a year when compared to value stocks, as the rally in tech and mega caps continues<a href="https://www.benzinga.com/markets"> to dominate market dynamics. </a>
The iShares Russell 1000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWF#NYSE">IWF</a>) has surged by 6.5% so far in June 2024. This gain puts it on track for its seventh month of increases in the last eight.
Investors have shown elevated confidence in growth-oriented sectors, particularly technology, which continues to benefit from strong earnings reports, heightened expectations for future cash flows and positive market sentiment, especially towards AI-related industries.
In stark contrast, the iShares Russell 1000 Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWD#NYSE">IWD</a>), representing the other major equity style, has declined by 1.4% in June. 
This divergence highlights the challenges facing value stocks, which typically encompass sectors like financials, energy, utilities, and consumer staples. These sectors have struggled to attract investor interest due to their less impressive performance and subdued earnings expectations.
The performance gap between growth and value in June 2024 stands at a striking 7.9 percentage points, marking the most substantial monthly performance difference since May 2023. 
With one trading week remaining in the month, if the gap exceeds 9.6 percentage points, previously reached in March 2020, it will mark the largest one-month outperformance of growth over value ever recorded.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50-1024x500.png" alt="" class="wp-image-400005" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/06/21143747/image-50.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">4 Key Factors Driving Growth&#8217;s Outperformance Over Value</h3>
Technology Sector&#8217;s Dominance in Growth ETFs: The technology sector&#8217;s heavy weighting in growth-related ETFs has been the main driver of their outperformance. In the Russell 1000 Growth ETF, tech stocks comprise a substantial 47% of the portfolio. In stark contrast, the Russell 1000 Value ETF allocates only 9.5% to tech stocks.
Impact of Chipmakers on Growth Performance: Within the tech sector, the substantial weighting of chipmakers in growth funds has been another critical factor, as they have been the main beneficiaries of the current AI-driven rally. The semiconductor sector represents 17% of the growth ETF, compared to a mere 4.2% in the value ETF.
Absence of Nvidia, Magnificent 6 In Value ETFs: Notably, &#8220;The Magnificent 6&#8221; – as named by Bank of America – Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) – are absent from the value-linked ETF but collectively hold a 50% weight in the growth ETF.
Stock Concentration and Market Breadth Differences: The higher stock concentration in growth-related ETFs compared to value socks is another crucial factor, especially in the current context of poor market breadth. The top 10 stocks in the Russell 1000 Growth ETF comprise 57% of the overall portfolio, whereas the top 10 in the value-related ETF account for only 17% of the total weight.
<h3 class="wp-block-heading">Top 7 Performing Growth Stocks In June</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (MTD)</td>
</tr>
<tr>
<td>Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)</td>
<td>26.85%</td>
</tr>
<tr>
<td>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>)</td>
<td>22.95%</td>
</tr>
<tr>
<td>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>)</td>
<td>22.88%</td>
</tr>
<tr>
<td>Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>)</td>
<td>19.95%</td>
</tr>
<tr>
<td>Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)</td>
<td>19.91%</td>
</tr>
<tr>
<td>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>)</td>
<td>19.48%</td>
</tr>
<tr>
<td>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>)</td>
<td>19.04%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of June 21, 2024</figcaption></figure>
<h2 class="wp-block-heading">Top 7 Performing Value Stocks In June</h2>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (MTD)</td>
</tr>
<tr>
<td>Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>)</td>
<td>24.68%</td>
</tr>
<tr>
<td>DC Technology Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXC#NYSE">DXC</a>)</td>
<td>20.23%</td>
</tr>
<tr>
<td>Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>)</td>
<td>19.58%</td>
</tr>
<tr>
<td>Universal Display Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NASDAQ">OLED</a>)</td>
<td>18.71%</td>
</tr>
<tr>
<td>Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>)</td>
<td>18.52%</td>
</tr>
<tr>
<td>Zillow Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NYSE">ZG</a>)</td>
<td>17.88%</td>
</tr>
<tr>
<td>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>)</td>
<td>16.29%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of June 21, 2024</figcaption></figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39431836/5-charts-expose-troubling-weaknesses-in-record-high-stock-market-this-is-not-normal">5 Charts Expose Troubling Weaknesses In Record-High Stock Market: &#8216;This Is Not Normal&#8217;</a>
Image created using artificial intelligence via Midjourney.

Oppenheimer analyst Ken Wong maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Outperform and maintains $275 price target.

Oppenheimer Maintains Outperform on Autodesk, Maintains $275 Price Target

In the latest quarter, 19 analysts provided ratings for Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>), showcasing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $277.0, a high estimate of $320.00, and a low estimate of $230.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 3.94%. 
<img src="https://www.benzinga.com/files/images/story/2024/1718715628_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The analysis of recent analyst actions sheds light on the perception of Autodesk by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$260.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Keith Weiss</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Equal-Weight</td>
<td>$255.00</td>
<td>$255.00</td>
</tr>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$260.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Daniel Jester</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$254.00</td>
<td>$293.00</td>
</tr>
<tr>
<td>Tyler Radke</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$295.00</td>
<td>$286.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$239.00</td>
<td>$239.00</td>
</tr>
<tr>
<td>Blair Abernethy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Buy</td>
<td>$290.00</td>
<td>$290.00</td>
</tr>
<tr>
<td>Saket Kalia</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$275.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Matthew Broome</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$230.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>Michael Funk</td>
<td>B of A Securities</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$260.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Clarke Jeffries</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$239.00</td>
<td>$260.00</td>
</tr>
<tr>
<td>Joe Vruwink</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$289.00</td>
<td>$296.00</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Buy</td>
<td>$290.00</td>
<td>$316.00</td>
</tr>
<tr>
<td>Ken Wong</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$275.00</td>
<td>$315.00</td>
</tr>
<tr>
<td>Jason Celino</td>
<td>Keybanc</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$305.00</td>
<td>$320.00</td>
</tr>
<tr>
<td>Nay Soe Naing</td>
<td>Berenberg</td>
<td>Announces</td>
<td>Hold</td>
<td>$295.00</td>
<td>-</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Buy</td>
<td>$316.00</td>
<td>$316.00</td>
</tr>
<tr>
<td>Adam Borg</td>
<td>Stifel</td>
<td>Maintains</td>
<td>Buy</td>
<td>$316.00</td>
<td>$316.00</td>
</tr>
<tr>
<td>Matthew Hedberg</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$320.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Autodesk. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Autodesk compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Autodesk's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Autodesk's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/ADSK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Autodesk analyst ratings.</a>
<h2>Unveiling the Story Behind Autodesk</h2>
Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.
<h3>Financial Milestones: Autodesk's Journey</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Autodesk's revenue growth over a period of 3 months has been noteworthy. As of 30 April, 2024, the company achieved a revenue growth rate of approximately 11.66%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 17.78%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): Autodesk's ROE stands out, surpassing industry averages. With an impressive ROE of 12.55%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Autodesk's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.55% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Autodesk's debt-to-equity ratio surpasses industry norms, standing at 1.21. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>What Are Analyst Ratings?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings For Autodesk

RBC Capital analyst Matthew Hedberg reiterates Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Outperform and maintains $260 price target.

RBC Capital Reiterates Outperform on Autodesk, Maintains $260 Price Target

Autodesk's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NYSE">ADSK</a>) short percent of float has risen 4.04% since its last report. The company recently reported that it has 2.22 million shares sold short, which is 1.03% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.1 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Autodesk Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718651720_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Autodesk has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Autodesk's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Autodesk's peer group average for short interest as a percentage of float is 3.89%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Autodesk's Recent Short Interest

Autodesk Issues Statement in Response to Starboard Value LP's Letter to Shareholders; Affirms Confidence in Current Strategy and Decision Against Re-opening Advance Notice Period for Director Nominations, Emphasizes Long-term Value Initiatives and Upcoming Annual Meeting on July 16, 2024.

Macro Economic Events

Market Summary

Benzinga Market Summary: Goldman Sachs Raises S&P 500 Index Year-End Target To 5,600, Starboard Issues Letter Fo Autodesk Board

U.S. stocks were mostly lower, with the Dow Jones index falling around 0.2% on Monday.
Shares of The Aaron&#8217;s Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAN#NYSE">AAN</a>) rose sharply during Monday's session after the company announced that it entered into a definitive agreement to be acquired<a href="https://www.benzinga.com/markets/equities/24/06/39355382/why-lease-to-own-retailer-aarons-shares-are-surging-today"> by IQVentures Holdings</a>.
IQVentures will acquire the company for $10.10 per share in cash, or an enterprise value of approximately $504 million.&nbsp;
Aaron&#8217;s shares jumped 32.2% to $9.97 on Monday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Xponential Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPOF#NYSE">XPOF</a>) gained 21.3% to $13.68. Xponential Fitness announced the appointment of Mark King as Chief Executive Officer.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) jumped 10.5% to $2.0099. HC Wainwright &amp; Co. analyst Joseph Pantginis initiated coverage on Lexicon Pharmaceuticals with a Buy rating and announced a price target of $10.</li>
<li>Mirum Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>) rose 10.2% to $28.58. Mirum&#8217;s Volixibat achieved interim analyses in VANTAGE PBC and VISTAS PSC studies.</li>
<li>United Homes Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UHG#NASDAQ">UHG</a>) gained 9.6% to $7.74.</li>
<li>Ouster, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) shares climbed 8.5% to $11.21. Ouster Director Virginia Boulet bought a total of 10,000 shares at an average price of $10.30.</li>
<li>Lufax Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) gained 8.1% to $2.3787.</li>
<li>Primo Water Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NASDAQ">PRMW</a>) shares rose 7.8% to $24.08 after the company and BlueTriton agreed to merge.</li>
<li>Golar LNG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLNG#NASDAQ">GLNG</a>) gained 4.8% to $28.75.</li>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) rose 4.4% to $235.84 following a report suggesting that Starboard has a $500 million stake in the company.</li>
<li>Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) gained 3% to $54.22.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39357158/23m-bet-on-pbf-energy-check-out-these-4-stocks-insiders-are-buying">$23M Bet On PBF Energy? Check Out These 4 Stocks Insiders Are Buying</a>

Aaron's, Mirum Pharmaceuticals, Primo Water And Other Big Stocks Moving Higher On Monday

Autodesk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) shares are trading higher Monday after activist investor Starboard Value purchased a stake of more than $500 million in the company and wrote a letter to <a href="https://www.benzinga.com/pressreleases/24/06/b39354373/starboard-value-issues-letter-to-autodesk-shareholders-regarding-opportunities-for-improved-corpor">shareholders pushing for changes</a>.
What Happened: Activist investor Starboard is pushing Autodesk to improve margins and make some changes to its board. In a letter released on Monday, Starboard urged shareholders to consider opportunities for improved corporate governance and enhanced value creation.
&#8220;We believe Autodesk has continued runway for growth, with incredibly sticky solutions that are the industry standard and integral to how its customers work, as well as an opportunity to expand further into attractive new verticals, such as construction,&#8221; the activist investor said in the letter.
&#8220;We also believe Autodesk has an opportunity to create significant shareholder value by meaningfully improving its combination of growth and profitability through substantial margin improvement, as well as adopting more shareholder-friendly capital allocation policies and improving governance and oversight.&#8221;
Starboard said it attempted to engage privately with Autodesk in recent weeks and offered to either work with the company on a board refresh or reopen the nomination window to allow shareholders to make a fully informed decision, but Autodesk chose not to pursue either of those paths forward. 
As a result, Starboard filed a lawsuit asking the Delaware Court of Chancery to reopen the nomination window for the company&#8217;s board so that shareholders will have the opportunity to make an informed decision.
&#8220;While we have unfortunately been forced to take legal action in an attempt to protect shareholders' rights, our primary goal remains to help create long-term value for the benefit of all Autodesk shareholders,&#8221; Starboard said. 
See Also: <a href="https://www.benzinga.com/news/24/06/39355721/nvidia-abbvie-vertex-pharmaceuticals-and-an-oil-giant-cnbcs-final-trades">Nvidia, AbbVie, Vertex Pharmaceuticals And An Oil Giant: CNBC&#8217;s &#8216;Final Trades&#8217;</a>
ADSK Price Action: Autodesk shares were up 4.48% at $236 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>. 
Photo: courtesy of Autodesk.

Starboard Value Issues Letter To Autodesk Board; Intends To File Lawsuit Seeking To Delay 2024 Annual Meeting And Reopen Nomination Window, Believes Co. Has Opportunity To Improve Combination Of Growth And Profitability

U.S. stocks are gearing up for a cautious start following last week&#8217;s record run, with the index futures currently showing mixed sentiment. Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market. Market strategists are upbeat about the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39350137/s-p-500-poised-to-extend-bull-run-market-strategist-sees-ai-fervor-and-ebbing-infla">trajectory for the rest of the year</a> and recommend judicious buying on dips. 
In Monday&#8217;s session, traders may seek cues from a Fed speech and the results of a regional manufacturing survey. Some of them may prefer to move to the sidelines ahead of Tuesday&#8217;s retail sales report.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.11%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.10%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.22%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.41%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged down 0.05% to $542.49, while the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded up 0.13% at $479.81, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Week:
Wall Street rode on the positive sentiment generated by the twin inflation reports released last week and positive tech earnings. Traders largely ignored the tempered rate-cut expectations following the Fed decision. The Nasdaq Composite and the S&amp;P 500 Index recorded weekly gains, while the Dow Jones Industrial Average edged down for the week. Interest rate-sensitive small-cap stocks underperformed the major averages.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td> Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+3.24%</td>
<td>17,688.88</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.58%</td>
<td>5,431.60</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-0.54%</td>
<td>38,589.16</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-1.01%</td>
<td>2,006.16</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
LPL Financial Chief Equity Strategist Adam Turnquist advised tactically buying the dips rather than chasing the latest unconfirmed breakout higher. He noted that the narrow leadership during the latest breakout has created notable divergences between price and market breadth. This does not suggest the bull market is over but it increases the risk of a pause or pullback unless a broader rotation develops, he said.
&#8220;Falling Treasury yields could provide a catalyst for stocks, provided they continue to decline on easing inflation data and not materially deteriorating economic conditions,&#8221; Turnquist said.
Broadening of the market rally would need a re-rating of Nvidia, according to Lumida Wealth&#8217;s Ram Ahluwalia. Until such the market breadth will likely remain weak, he said.
On the other hand, Evercore ISI analyst Julian Emanuel said the backdrop of slowing inflation, a Fed intent on cutting rates and growth support the Goldilocks scenario. He sees the AI frenzy and easing inflation to propel the S&amp;P 500 to 6,000 by the year-end.
Upcoming Economic Data:
The truncated week will see the release of a few key economic reports and Fed speeches that could offer more clarity on the interest rate outlook. The May retail sales report due on Tuesday, a duo of regional manufacturing reports, national manufacturing and service sector readings, the May industrial production report, a trio of housing market readings, the weekly jobless claims report and a slew of Fed speeches are among the closely-watched catalysts.
<ul>
<li>The New York Fed will release the results of its Empire State manufacturing survey at 8:30 a.m. EDT. Economists, on average, expect the index to remain in the negative zone, indicating contracting activity. The index for June is expected to come in at -10.5, up from -15.6 in May, suggesting a slower rate of contraction.</li>
<li>The Treasury will auction three- and six-month bills at 11:30 a.m. EDT.</li>
<li>Philadelphia Fed President Patrick Harker speech is scheduled to speak at 1 p.m. EDT and Fed Governor Lisa Cook at 9 p.m. EDT.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li>Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) shares rose over 4% in premarket trading after a Wall Street Journal report said -activist investor Starboard Value has bought a roughly $500 million stake in the company.</li>
<li>La-Z-Boy Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LZB#NYSE">LZB</a>) and Lennar Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) are scheduled to release their quarterly results after the market close.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
After the strong showing in the week ended June 14, crude oil futures were marginally lower and gold futures also slipped. The 10-year benchmark U.S. treasury yield rose 2.7 basis points to 4.24%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), though up modestly, was trading below the $66K mark.
Asian markets fell across the board, although the Indian, Malaysian and Singaporean markets remained closed for the Eid al-Adha holiday. A slew of data released from China underlined the soft patch, with fixed asset investment, industrial production and house prices all coming in weaker than expected. Separately, the People&#8217;s Bank of China <a href="https://www.benzinga.com/markets/asia/24/06/39349591/china-keeps-interest-rates-unchanged-amid-economic-uncertainty-to-stabilize-the-yuan-and-manage-liqu">left a key interest</a> rate unchanged, with the rate on 182 billion yuan worth of one-year medium-term lending facility loans maintained at 2.50%, in line with expectations.
European stocks showed tentativeness in early trading.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39352242/nvidia-is-sucking-the-oxygen-out-of-the-room-wealth-manager-says-stocks-with-good-f">&#8216;Nvidia Is Sucking The Oxygen Out Of The Room:&#8217; Wealth Manager Says Stocks With &#8216;Good Fundamental Execution&#8217; Can Still Decline Because Of AI Stalwart</a>
Photo by Phongphan on Shutterstock

WIIM

Autodesk shares are trading higher following a report suggesting that Starboard has a $500 million stake in the company.

Editor's Note: The story has been updated with a response from Autodesk spokesperson on the report.
Activist investor Starboard Value has reportedly acquired a significant stake in Autodesk Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) and is advocating for changes within the company. Autodesk&#8217;s architecture, engineering, and construction solutions include AutoCAD and Revit, their flagship product for relational building information modeling.
What Happened: Starboard Value has invested approximately $500 million in Autodesk, a design-software company. The investment firm has expressed concerns about the company&#8217;s operational strategies, corporate governance, and handling a recent accounting investigation that led to a drop in the stock price, <a href="https://www.wsj.com/finance/activist-starboard-value-has-stake-in-autodesk-2b764e01?mod=latest_headlines">reported</a> to The Wall Street Journal on Sunday citing people familiar with the matter.
Starboard is urging Autodesk to enhance its profit margins and make modifications to its board. The activist investor has already met with the company&#8217;s executives to discuss these issues.
The San Francisco-based Autodesk, with a market capitalization of nearly $50 billion, has seen its shares decrease by 7% this year. The company, which provides engineering, 3D-design, and entertainment software and services, faced a significant stock drop following the revelation of an accounting probe and a delay in its annual financial report in April.
Starboard has criticized Autodesk for not disclosing the investigation and other material updates until after the company&#8217;s window for shareholders to nominate director candidates had closed in late March. 
The investment firm is reportedly considering legal action to demand the reopening of Autodesk&#8217;s director-nomination window and a delay in the company&#8217;s annual shareholder meeting, currently scheduled for Jul. 16, according to the report.
&#8220;Autodesk's Board and management maintain an open dialogue with our shareholders and welcome constructive input from them. We are confident in our strategic direction, significant margin opportunity, and our corporate governance," said Autodesk's spokesperson to <a href="http://pro.benzinga.com/">Benzinga</a>&#8216;s email request for comment on the report.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39345194/apple-nvidia-are-the-most-overbought-stocks-on-wall-street-amid-ai-frenzy-here-are-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple, Nvidia Are The Most Overbought Stocks On Wall Street Amid AI Frenzy: Here Are Other Stocks With Potential For Pullback</a>
Why It Matters: The investment by Starboard Value and its subsequent push for changes at Autodesk could significantly impact the company&#8217;s future. The activist investor&#8217;s involvement often leads to substantial shifts in a company&#8217;s operations and governance, potentially influencing its stock performance and overall market position.
New York-based Starboard invests across various sectors, with a strong focus on technology, including recent initiatives at Salesforce, Wix.com, and GoDaddy. Recently, the firm, led by Jeff Smith, has also secured board seats at Algonquin Power &amp; Utilities and Bloomin&#8217; Brands, the parent company of Outback Steakhouse.
Starboard&#8217;s move comes amid a challenging period for Autodesk. Goldman Sachs analyst in the last week questioned <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39296284/goldman-sachs-analyst-questions-autodesks-revenue-growth-and-total-addressable-mark">Autodesk&#8217;s revenue growth</a> and total addressable market targets. The analyst, Kash Rangan, maintained a Sell rating on Autodesk and lowered the price target from $230 to $225, citing the company&#8217;s strong competitive positioning and relative stickiness that could command operating margins north of 40% in the long term.
The company reported <a href="https://www.benzinga.com/news/earnings/24/06/39277546/whats-going-on-with-autodesk-stock-after-earnings">its first-quarter earnings</a> of $1.87 per share, which beat the analyst consensus estimate of $1.77 by 5.65%. Additionally, a purported stockholder derivative complaint was filed in the U.S. District Court that named the directors and Chief Strategy Officer as defendants and the company as a nominal defendant.
Price Action: Autodesk Inc.&#8217;s stock closed at $225.87 on Friday, up 1.24%; in after-hours trading, the stock price remained unchanged, with a year-to-date decline of 3.52%, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39346506/donald-trumps-planned-visit-to-black-church-in-detroit-draws-backlash-from-critics-who-say-he-di?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s Planned Visit To Black Church In Detroit Draws Backlash From Critics Who Say He Didn&#8217;t Do Enough As President</a>
Image Via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

<a href="https://www.wsj.com/finance/activist-starboard-value-has-stake-in-autodesk-2b764e01?mod=hp_lead_pos4" title="https://www.wsj.com/finance/activist-starboard-value-has-stake-in-autodesk-2b764e01?mod=hp_lead_pos4">https://www.wsj.com/finance/activist-starboard-value-has-stake-in-autodesk-2b764e01?mod=hp_lead_pos4</a>

Insider Trades

Wall Street Journal, Citing Sources, Reported Starboard Value Has ~ $500M Stake In Autodesk And Is Pushing For Changes At The Company

A lower-than-expected inflation report for May ignited a bullish frenzy on Wall Street, with investors increasing their bets on rate cuts, bolstered by growing confidence that the Federal Reserve will ease its policy stance later this year as price pressures trend <a href="https://www.benzinga.com/markets/equities/24/06/39289912/us-inflation-eases-more-than-expected-in-may-boosts-2024-rate-cut-prospects-ahead-of-wednesdays-">towards the 2% target.</a>
The Consumer Price Index (CPI) data revealed cooler-than-anticipated monthly and annual inflation rates for both headline and core items. 
This report arrives just ahead of the highly anticipated Federal Open Market Committee (FOMC) meeting, which will commence <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39294739/how-mays-inflation-slowdown-could-influence-feds-next-move-insights-from-6-economis">at 2:00 p.m. ET today.</a>
The implied probability of a rate cut by September has surged to 72%, up from 54% before the inflation report. Fed futures now indicate a 55 basis points reduction (equivalent to two rate cuts) by year-end.
In response to rising expectations for rate cuts, traders quickly pivoted to riskier assets.
The tech-heavy Nasdaq 100 climbed 1.4% to over 19,400 points, setting new record highs. The S&amp;P 500 Index increased by 1.1% to surpass 5,400 points, also achieving fresh all-time highs.
Blue-chip stocks saw a modest rise of 0.2%, but the standout performance came from small caps. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) surged 2.7%, marking its best session since mid-December 2023.
Treasury yields plummeted across the board, with the 2-year yield dropping 15 basis points to 4.68%. Long-dated yields also declined by approximately 10 basis points, propelling the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) up by 1.6%, its strongest one-day performance since early February 2024.
Industries sensitive to interest rates saw significant gains. The SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) and the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) soared 4.6% and 3.5%, respectively.
Precious metals also rallied on the back of lower yields and a weakening dollar, with gold rising 0.8% and silver surging 2.8%.
Cryptocurrencies experienced sharp rallies driven by the risk-on sentiment. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped 3.6% to $69,800, while the more speculative Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surged over 8% on the day.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,072.95</td>
<td>2.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,471.20</td>
<td>1.4%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,435.07</td>
<td>1.1%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,819.58</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 1.1% higher to $542.76.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was 0.2% higher to $388.81.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(ARCA: <a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a><a href="https://www.benzinga.com/quote/qqq" target="_blank" rel="noreferrer noopener"></a>QQQ) was 1.4 higher to $474.65.</li>
<li>Sector-wise, the&nbsp;Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)&nbsp;outperformed, up by 2.6%, while the&nbsp;Energy Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rose 4.7%, surpassing Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) as the world&#8217;s biggest company. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied over 4%, following <a href="https://www.benzinga.com/etfs/specialty-etfs/24/06/39294523/cathie-wood-ark-invest-set-new-2-600-price-target-for-tesla-every-car-becomes-an-ai-powered-c">Cathie Wood&#8217;s bullish projection</a> on the EV maker. </li>
<li>The top performers among real estate stocks were Zillow Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>), eXp World Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NASDAQ">EXPI</a>) and Redfin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>), with gains of 13.7%, 11% and 9.4%, respectively. </li>
<li>Among the subset of stocks exposed to the office and commercial real estate sector, SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) and Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) rose 8.3% and 8%, respectively.</li>
<li>Within the regional bank industry, First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) and Western Alliance Bancorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) rose the most, up 7.5% and 7%, respectively. </li>
<li>Caseys General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>) skyrocketed over 17% in reaction to stronger-than-expected quarterly earnings and revenue. </li>
<li>Other stocks reacting to company earnings are Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) up 12.7%, Autodesk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) up 5.3%, Rubrik Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) down 4.9%. </li>
<li>Companies set to report their earnings after Wednesday&#8217;s close are Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Dave &amp; Busters Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>), and Oxford Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXM#NYSE">OXM</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/06/39292008/short-seller-citron-closes-short-position-in-gamestop-says-it-respects-markets-irrationality">Short Seller Citron Closes Short Position In GameStop, Says &#8216;It Respects Market&#8217;s Irrationality&#8217;</a>
Image generated using artificial intelligence via Midjourney.

Bulls Push Wall Street To Record Highs On Declining Inflation; Tech, Real Estate, Small Caps Surge Ahead Of Fed Meeting: What's Driving Markets Wednesday?

Morgan Stanley analyst Keith Weiss maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Equal-Weight and maintains $255 price target.

Morgan Stanley Maintains Equal-Weight on Autodesk, Maintains $255 Price Target

Autodesk Left A Door Ajar For Its Pushy Investor

Starboard Value continues to call out Autodesk board of directors

The software industry is poised for significant growth in the coming years due to the rising integration of specialized software applications, increasing software spending, and growing demand for innovative solutions. Against this backdrop, investors could consider adding fundamentally strong software stocks such as Autodesk (ADSK), Workday (WDAY), and Intuit (INTU) to their watchlists for big returns. Read on… Due to increasing digitization and evolving technology, the software industry is expected to thrive in the coming years. Companies that adapt, innovate, and provide value-added solutions will likely capitalize on opportunities.
Given this backdrop, investors could consider adding high-growth software stocks, such as Autodesk, Inc. (<a href="https://stocknews.com/stock/ADSK/">ADSK</a>), Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>), and Intuit Inc. (<a href="https://stocknews.com/stock/INTU/">INTU</a>), to their watchlists for big returns. Before diving deeper into the fundamentals of these stocks, let's discuss what's shaping the software industry's prospects.
The rapid advancement of technology and increasing digitalization across various industries is driving the demand for innovative and specialized software applications. Gartner predicts a <a href="https://www.gartner.com/en/newsroom/press-releases/2024-04-16-gartner-forecast-worldwide-it-spending-to-grow-8-percent-in-2024">13.9% increase</a> in software spending in 2024, reaching $1.04 trillion, as companies seek customizable and scalable applications to streamline their operations, improve efficiency, and enhance customer experiences.
The proliferation of mobile devices and the rise of cloud computing have created new opportunities for software application developers to create cutting-edge applications that can be accessed anytime, anywhere. The demand for mobile apps, SaaS solutions, and other cloud-based applications is only expected to increase in the future.
The demand for software applications leveraging data analytics, AI, machine learning, and IoT is growing rapidly, driven by the need for business growth and competitive advantage.
Additionally, remote work practices have increased the demand for communication tools, collaboration platforms, and productivity-enhancing software. The U.S. application development software market is forecasted to reach $113.70 billion by 2028, growing at a <a href="https://www.statista.com/outlook/tmo/software/application-development-software/united-states">CAGR of 5.7%</a>.
In light of these encouraging trends, let's examine the fundamentals of the three <a href="https://stocknews.com/category/software-application/">Software - Application</a> stock picks, starting with the third in line.
Stock #3: Autodesk, Inc. (<a href="https://stocknews.com/stock/ADSK/">ADSK</a>)
ADSK provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, Autodesk Build, Revit, Autodesk BIM Collaborate Pro, and BuildingConnected. 
On May 21, 2024, ADSK announced that it acquired Wonder Dynamics, makers of Wonder Studio, which is highly compatible with other popular 3D tools. ADSK's acquisition of Wonder Dynamics gave more creators the ability to add 3D animated characters to their projects and stories while minimizing the learning curve and automating typically complex and time-consuming processes. 
On April 24, 2024, ADSK announced an interoperability agreement with the Nemetschek Group to improve open collaboration and efficiencies for the architecture, engineering, construction and operations, and media and entertainment industries.
The agreement enhanced the existing interoperability between their industry cloud and desktop products and improved the fluent exchange of information across solutions.
Over the past three and five years, ADSK's revenue grew at CAGRs of 13.2% and 15.5%, respectively. Its <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> grew at a CAGR of 20.7% over the past three years.
ADSK's total net revenue for the fiscal first quarter that ended April 30, 2024, amounted to $1.42 billion, up 11.7% year-over-year. Its non-GAAP income from operations rose 21.3% from the year-ago quarter to $490 million. The company's net income and non-GAAP net income per share stood at $252 million and $1.87, up 56.5% and 20.6% from the prior-year quarter, respectively.
For the quarter ending July 31, 2024, ADSK's revenue and EPS are expected to increase 10.3% and 4.9% year-over-year to $1.48 billion and $2, respectively. It surpassed consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive. The stock has gained 18.4% over the past year to close the last trading session at $239.17.
ADSK's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. It has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
ADSK has an A grade for Quality and a B for Growth and Sentiment. It is ranked #29 out of 134 stocks in the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry. <a href="https://stocknews.com/stock/ADSK/">Click here</a> to see ADSK's Value, Momentum, and Stability ratings.
Stock #2: Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>)
WDAY provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations.
On June 17, 2024, WDAY partnered with SkillStorm to deliver Workday-certified technical consultants across a range of business domains. This partnership was designed to help WDAY customers access purpose-built teams of skilled and certified WDAY resources, helping increase productivity.
On June 5, 2024, WDAY announced Built on Workday, a new program that enables partners to easily build, centrally manage, and market trusted finance and HCM apps that extend the power of the WDAY platform.
With a "build once, distribute to many" approach, this program enabled partners to accelerate their revenue without scaling costs while empowering customers to discover an entirely new range of solutions tailored to their specific needs.
Over the past three and five years, WDAY's revenue grew at CAGRs of 19.1% and 20.1%, respectively. Its levered FCF grew at a CAGR of 9.3% over the past three years.
For the first quarter that ended April 30, 2024, WDAY's total revenues and free cash flows stood at $1.99 billion and $291 million, up 18.2% and 33.5% year-over-year, respectively. Its net income came in at $107 million. For the same quarter, its non-GAAP net income per share increased 30.8% from the year-ago quarter to $1.74.
Street expects WDAY's EPS and revenue for the quarter ending July 31, 2024, to increase 14.6% and 15.9% year-over-year to $1.64 and $2.07 billion, respectively. The company surpassed consensus EPS and revenue estimates in each of the trailing four quarters. The stock has declined 1% over the past month to close the last trading session at $218.70.
WDAY's POWR Ratings reflect its robust prospects. It has an overall B rating, equating to Buy in our proprietary rating system.
WDAY has an A grade for Growth and a B for Quality. Within the same industry, it is ranked #26. Get WDAY's Value, Momentum, Stability, and Sentiment ratings <a href="https://stocknews.com/stock/WDAY/">here</a>.
Stock #1: Intuit Inc. (<a href="https://stocknews.com/stock/INTU/">INTU</a>)
INTU provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business &amp; Self-Employed; Consumer; Credit Karma; and ProTax. 
On June 20, 2024, INTU partnered with the Los Angeles Urban League for the expansion of the Intuit IDEAS Program, which will expand to a total of 100 small business owners, offering them free access to INTU products, services, business counseling, and coaching.
On June 13, 2024, INTU announced that it signed an agreement to acquire technology from leading mobility risk intelligence provider Zendrive. Certain Zendrive employees joined Credit Karma to accelerate innovation and adoption of its usage-based auto insurance product, Karma Drive.
Over the past three and five years, INTU's revenue grew at CAGRs of 21.2% and 18.9%, respectively. Its EBIT grew at a CAGR of 13.5% over the past three years.
INTU's total net revenue for the fiscal third quarter that ended April 30, 2024, increased 11.9% year-over-year to $6.74 billion. Its non-GAAP operating income rose 10.5% from the prior-year quarter to $3.71 billion. In addition, its non-GAAP net income stood at $2.80 billion, up 11.1% from the year-ago quarter. Also, its non-GAAP net income per share grew 10.8% year-over-year to $9.88.
Analysts expect INTU's revenue and EPS for the quarter ending July 31, 2024, to increase 13.9% and 12.7% year-over-year to $3.09 billion and $1.86, respectively. The company surpassed Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 37.8%, closing the last trading session at $623.88.
INTU's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to Buy in our proprietary rating system.
It has an A grade for Quality and a B for Growth and Sentiment. It is ranked #24 in the Software - Application industry. <a href="https://stocknews.com/stock/INTU/">Click here</a> for the additional POWR Ratings of INTU (Value, Momentum, and Stability).
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
INTU shares were trading at $626.08 per share on Tuesday afternoon, up $2.20 (+0.35%). Year-to-date, INTU has gained 0.46%, versus a 14.77% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Neha Panjwani</h2> <img src='https:/wp-content/uploads/2024/01/Neha-Panjwani_Headshot-1.jpeg' style="float:left; padding:5px;width:125px;">From her school days, Neha harbored a profound fascination for finance, a passion that steered her toward a career as an investment analyst following the completion of her bachelor's degree in commerce. Currently enrolled in the CFA program, Neha is dedicated to further enriching her comprehension of investment fundamentals.

Neha's primary objective is to aid retail investors in discerning optimal investment opportunities by diligently evaluating crucial aspects of financial instruments, with a primary focus on stocks and ETFs. Her commitment lies in empowering individuals to make informed and strategic investment decisions in the dynamic world of finance.<a href="https://stocknews.com/authors/?author=neha-panjwani">More...</a>The post <a href=https://stocknews.com/news/intu-wday-adsk-watch-these-3-high-growth-software-stocks-for-big-returns/>Watch These 3 High-Growth Software Stocks for Big Returns</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Watch These 3 High-Growth Software Stocks for Big Returns

Starboard Value continues to call out Autodesk board of directors (update)

Activist investor Starboard Value has issued a letter to software company Autodesk's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) Board of Directors. Starboard, holding over $500...

Starboard Calls for More Transparency at Autodesk (ADSK)

Analyst Saket Kalia of Barclays maintained a Buy rating on Autodesk (ADSK – Research Report), retaining the price target of $275.00. Saket Kalia ha...

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Analyst Joseph Vruwink of Robert W. Baird maintained a Buy rating on Autodesk (ADSK – Research Report), retaining the price target of $289.00. Jose...

Autodesk Poised for Margin Expansion and Efficiency Gains: A Buy Rating Analysis

AI stocks with limited multiple expansion but improving EPS revisions - Citi

William Blair analyst Dylan Becker has maintained their bullish stance on ADSK stock, giving a Buy rating on June 26. Dylan Becker has given his Bu...

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DELL, ADSK: 2 AI Stocks That Still Seem Underrated

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INTU

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Press Releases

AUTODESK 72 HOUR DEADLINE ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC Remind Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against Autodesk, Inc. - ADSK

Legal

AUTODESK DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Autodesk, Inc. and Encourages Investors to Contact the Firm

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Autodesk, Inc. - ADSK

Autodesk (ADSK) Activist Investor Starboard Value LP Raises Concerns About ADSK's Accounting Practices – Hagens Berman

DEADLINE ALERT for CORBF, LNC, ADSK, and CMP: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

ADSK Investors Have Opportunity to Lead Autodesk, Inc. Securities Fraud Lawsuit with the Schall Law Firm

Starboard Value Urges Autodesk to Increase Transparency, Improve Governance and Operations, and Rebuild Credibility with Investors

AUTODESK ALERT: Bragar Eagel & Squire, P.C. is Investigating Autodesk, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

INVESTOR ACTION NOTICE: Moore Law PLLC Encourages Investors in Autodesk, Inc. to Contact Law Firm


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