Jim Cramer addressed a question about Autodesk, Inc. (NASDAQ: ADSK) during the lightning round of his show. He responded to a caller's query regarding the stock.
"This is another one, look, this is enterprise software. No one wants to touch these companies. It doesn't matter if it's for architects. No one wants to touch, these are toxic, okay? These are toxic. And we're going to stay away from the Love Canal that is enterprise software," Cramer said.
Autodesk provides 3D design, engineering, and entertainment software. Its applications include building information modeling, mechanical simulation, and digital production management.
On January 9, Rothschild & Co Redburn began coverage of Autodesk stock. The firm issued a Buy rating and set a price target of $375. It projects the company will grow 5.0% to 5.5% above industry benchmarks from 2024 through 2027. This forecast exceeds consensus estimates of 3.5% to 4% growth.