Brokerages predict that Autodesk, Inc. (NASDAQ:ADSK) will announce sales of $787.43 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Autodesk’s earnings, with estimates ranging from $783.40 million to $790.20 million. Autodesk posted sales of $611.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 28.7%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, August 22nd.
According to Zacks, analysts expect that Autodesk will report full-year sales of $3.28 billion for the current financial year, with estimates ranging from $3.23 billion to $3.30 billion. For the next year, analysts anticipate that the business will post sales of $4.02 billion, with estimates ranging from $3.91 billion to $4.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Autodesk.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 23rd. The software company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.02). The firm had revenue of $735.50 million during the quarter, compared to analyst estimates of $740.14 million. Autodesk had a negative net margin of 0.82% and a negative return on equity of 26.61%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS.
Several analysts have recently weighed in on the company. Evercore ISI restated a “buy” rating and issued a $190.00 price objective on shares of Autodesk in a report on Wednesday, June 5th. Griffin Securities restated a “buy” rating and issued a $193.00 price objective (up previously from $188.00) on shares of Autodesk in a report on Friday, May 24th. Wedbush cut their price objective on Autodesk from $166.00 to $164.00 and set a “neutral” rating for the company in a report on Friday, May 24th. KeyCorp assumed coverage on Autodesk in a report on Wednesday, April 10th. They issued an “overweight” rating and a $196.00 price objective for the company. Finally, Zacks Investment Research lowered Autodesk from a “hold” rating to a “strong sell” rating and set a $169.00 price objective for the company. in a report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $173.95.
Shares of Autodesk stock traded down $5.71 during trading on Friday, hitting $147.76. The stock had a trading volume of 3,817,630 shares, compared to its average volume of 1,312,581. The stock has a market capitalization of $33.71 billion, a price-to-earnings ratio of 1,343.27, a P/E/G ratio of 2.43 and a beta of 1.79. The firm’s fifty day simple moving average is $167.42. Autodesk has a fifty-two week low of $117.72 and a fifty-two week high of $178.95.
In related news, Director Karen Blasing sold 1,300 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $164.54, for a total transaction of $213,902.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $161.09, for a total value of $161,090.00. The disclosure for this sale can be found here. Insiders have sold 6,773 shares of company stock worth $1,109,297 over the last ninety days. 0.12% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of ADSK. Norges Bank acquired a new position in Autodesk during the fourth quarter valued at $302,827,000. Frontier Capital Management Co. LLC acquired a new position in Autodesk during the first quarter valued at $93,517,000. Egerton Capital UK LLP raised its position in Autodesk by 30.4% during the first quarter. Egerton Capital UK LLP now owns 2,228,779 shares of the software company’s stock valued at $347,288,000 after buying an additional 519,100 shares during the period. Janus Henderson Group PLC raised its position in Autodesk by 28.0% during the second quarter. Janus Henderson Group PLC now owns 2,249,141 shares of the software company’s stock valued at $366,384,000 after buying an additional 492,665 shares during the period. Finally, Federated Investors Inc. PA raised its position in Autodesk by 364.0% during the first quarter. Federated Investors Inc. PA now owns 365,694 shares of the software company’s stock valued at $56,983,000 after buying an additional 286,883 shares during the period. 92.86% of the stock is currently owned by hedge funds and other institutional investors.
Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; AutoCAD LT, a professional drafting and detailing software; BIM 360, a construction management cloud-based software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections software products for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment industries.
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