Autodesk Inc (ADSK)’s Bold Moves

Autodesk Inc (NASDAQ:ADSK) is among the best S&P 500 stocks with highest upside potential. Autodesk Inc (NASDAQ:ADSK) has sued Google over trademark infringement, Reuters reported on February 9. According to the report, the issue is the word “Flow,” which Autodesk says it has been using to market its products since at least September 2022.

In the suit, Autodesk points out that Google adopted “Flow” as the name of its new AI-powered software that competes with Autodesk products on the market. According to Autodesk, Google had assured it that it would not commercialize its Flow software. Autodesk is seeking damages in this suit.

This legal battle with Google comes at a time when Autodesk has sought to invest more in cloud and AI platforms. As part of this effort, the company announced on January 22 a strategy shift that would see it slash 7% of its global workforce as it directs more resources toward cloud and AI.

On February 2, JPMorgan upgraded Autodesk to Overweight from Neutral with a price target of $319. According to the firm, Autodesk is the go-to building information modeling software for engineers, architects, and contractors. Integration of cloud and AI into Autodesk’s platform is only going to make it a more valuable tool in streamlining workflow and driving operational efficiency, the firm argues. Additionally, the firm sees Autodesk benefiting from rising regulatory compliance reporting demands.

Autodesk Inc (NASDAQ:ADSK) provides software products and services used by architects, engineers, contractors, and manufactures. It also serves the media, entertainment, and education industries. Autodesk has offices globally but is headquartered in San Francisco, California.

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.