11 Best Augmented Reality Stocks to Buy According to Hedge Funds

9. Autodesk, Inc. (NASDAQ:ADSK)

Number of Hedge Fund Holders: 74

Autodesk Inc. (NASDAQ:ADSK) offers three-dimensional design, engineering, and entertainment technology solutions for engineering, architecture, construction, product design, media, manufacturing, and entertainment industries. Its CAD-to-AR for Autodesk Inventor integrates Unity Software’s game engine with the EasyAR™ augmented reality engine and is a technology demonstration of viewing Inventor 3D models in AR. Its main features enable the user to integrate it into the Inventor UI, alter model opacity in AR, capture screenshots of the AR scene, view Inventor 3D models in AR, track and choose a submodel, and undertake several other functionalities.

On April 25, Barclays analyst Saket Kalia maintained a Buy rating on Autodesk Inc. (NASDAQ:ADSK) and set a price target of $325.00. While Daniel Jester, an analyst from BMO Capital, maintained a Hold rating on the same day with an unchanged price target of $324.00, he opined that the company holds potential for improved profitability and higher EBIT margins.

According to the analyst, adding new members to the company’s board due to the recent agreement with Starboard is also a positive step for Autodesk Inc. (NASDAQ:ADSK), as it reduces distractions for management in an uncertain and challenging macroeconomic environment. This removes the uncertainty of a proxy vote, allowing the company to focus on its core business operations. The analyst viewed this stage as a transitional period in the company’s operations and acknowledged Autodesk Inc.’s (NASDAQ:ADSK) promising long-term prospects, expecting more significant catalysts to emerge later in the year.