HSBC downgrades Autodesk on moderating earnings growth, valuation concerns

) to “hold” from “buy” as it expects moderating earnings growth and valuation concerns relative to peer Dassault Systèmes. Brokerage also lowered its target price on the stock by $9 to $290.

While Autodesk’s third-quarter results slightly exceeded Wall Street expectations, they fell short of HSBC’s estimates, note highlights. The company has raised its full-year guidance, now projecting fiscal 2025 revenue of $6.123 billion and adjusted earnings per share of $8.32, in line with consensus estimates.

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