Autodesk, Inc. (ADSK) To Cut 7% of its Workforce

​Autodesk, Inc. (NASDAQ:ADSK) is one of the Best Software Stocks to Buy According to Wall Street Analysts. On January 22, Reuters reported that Autodesk, Inc. (NASDAQ:ADSK) will cut 7% of its global workforce, which translates to around 1,000 jobs, to increase its spending on cloud and AI platforms. Following the announcement, the share price moved up by roughly 3%.

​That said, Wall Street is bullish on the stock, with analysts’ 12-month price target suggesting more than 47% upside. Recently, on January 21, Siti Panigrahi from Mizuho Securities reiterated a Buy rating on the stock without disclosing any price target. Earlier, on January 13, Piper Sandler also reiterated an Overweight rating on Autodesk, Inc. (NASDAQ:ADSK) with a $373 price target.

​Analysts at Piper Sandler noted the company to be one of its top picks for 2026, mainly due to its progress in the generative AI solutions for various industries. The firm noted that Autodesk has made significant progress over the past few years in successfully monetizing changes in the industry.

​Autodesk, Inc. (NASDAQ:ADSK) is a leading software provider to designers, engineers, and builders. Its technology spans architectural, engineering, construction, product design, and manufacturing.

While we acknowledge the potential of ADSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.