Is Autodesk Stock Underperforming the S&P 500?

Autodesk, Inc. (ADSK) develops design and engineering software that empowers professionals in architecture, construction, manufacturing, and media to create and innovate. The company operates globally, delivering 3D modeling tools that streamline workflows across industries. Its headquarters is in San Francisco, California. Autodesk has a market capitalization of $54.67 billion, making it a “large-cap” stock. 

Autodesk’s shares reached a 52-week low of $215.01 on Feb. 24, but are up 22.8% from that level. Over the past three months, the stock has declined 13.9% as the company is undergoing a restructuring to reallocate investments toward artificial intelligence (AI) and cloud technologies. On the other hand, the broader S&P 500 Index ($SPX) is down only marginally over the past three months. 

Over the past 52 weeks, Autodesk’s stock has dropped 1.2%, underperforming the S&P 500 Index’s 16.9% gains. The stock is down 10.8% year-to-date (YTD), while the index is only down marginally. Autodesk’s stock is currently hovering near its 50-day moving average. It has been trading below its 200-day moving average since early January. 

In January, Autodesk announced that it would shed 7% of its workforce, or about 1,000 jobs, as part of a restructuring aimed at redirecting spending towards AI and cloud. The company has also been transitioning from a traditional channel-centric sales model to a reliable subscription-based, usage-based model. 

In the fourth quarter of fiscal 2026 (quarter ended Jan. 31), Autodesk’s billings grew by 33% year-over-year (YOY) to $2.80 billion, while its non-GAAP EPS jumped to $2.85. As the results were better than expected, the company’s stock grew 5.3% intraday on Feb. 27. For the current fiscal year, Wall Street analysts expect Autodesk’s EPS to climb 34.8% YOY to $9.33 on a diluted basis. 

We compare Autodesk’s performance with that of another application software stock, Cadence Design Systems, Inc. (CDNS), which has gained 22.5% over the past 52 weeks but declined 4.1% YTD. Therefore, Autodesk has been the clear underperformer over these periods.

Wall Street analysts are strongly bullish on Autodesk’s stock. The stock has a consensus rating of “Strong Buy” from the 27 analysts covering it. The mean price target of $340.96 implies a 29.1% upside from current levels. The Street-high price target of $460 indicates a 74.2% upside.