Autodesk, Inc. (NASDAQ:ADSK) Expected to Post Quarterly Sales of $787.43 Million

Analysts expect that Autodesk, Inc. (NASDAQ:ADSK) will post $787.43 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Autodesk’s earnings, with the highest sales estimate coming in at $790.20 million and the lowest estimate coming in at $783.40 million. Autodesk reported sales of $611.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 28.7%. The business is scheduled to issue its next earnings results on Thursday, August 22nd.

According to Zacks, analysts expect that Autodesk will report full year sales of $3.28 billion for the current year, with estimates ranging from $3.23 billion to $3.30 billion. For the next year, analysts anticipate that the business will report sales of $4.02 billion, with estimates ranging from $3.91 billion to $4.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Autodesk.

Autodesk (NASDAQ:ADSK) last announced its earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Autodesk had a negative net margin of 0.82% and a negative return on equity of 26.61%. The business had revenue of $735.50 million during the quarter, compared to analysts’ expectations of $740.14 million. During the same period in the previous year, the company posted $0.06 earnings per share. Autodesk’s quarterly revenue was up 31.4% on a year-over-year basis.

ADSK has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of ZIOPHARM Oncology from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 17th. Citigroup lowered shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $92.00 to $99.00 in a research note on Monday, July 22nd. KeyCorp boosted their price target on shares of Ingersoll-Rand from $112.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Zacks Investment Research upgraded shares of Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research note on Monday, June 3rd. Finally, Mizuho set a $75.00 price target on shares of Starbucks and gave the stock a “buy” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Autodesk currently has a consensus rating of “Buy” and an average target price of $173.95.

Shares of Autodesk stock opened at $160.29 on Friday. Autodesk has a 52-week low of $117.72 and a 52-week high of $178.95. The business’s 50-day moving average price is $167.97. The firm has a market capitalization of $35.20 billion, a price-to-earnings ratio of 1,457.18, a price-to-earnings-growth ratio of 2.66 and a beta of 1.81.

In other news, Director Karen Blasing sold 1,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $164.54, for a total value of $213,902.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Crawford W. Beveridge sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $161.09, for a total transaction of $161,090.00. The disclosure for this sale can be found here. Insiders sold 6,773 shares of company stock worth $1,109,297 over the last quarter. Company insiders own 0.12% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in ADSK. First Manhattan Co. lifted its stake in shares of Autodesk by 221.2% during the first quarter. First Manhattan Co. now owns 167 shares of the software company’s stock valued at $26,000 after buying an additional 115 shares during the period. Liberty Wealth Management LLC purchased a new position in Autodesk during the fourth quarter worth approximately $30,000. Farmers National Bank purchased a new position in Autodesk during the first quarter worth approximately $32,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Autodesk by 975.0% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 215 shares of the software company’s stock worth $34,000 after purchasing an additional 195 shares during the period. Finally, Thor Advisors LLC purchased a new position in Autodesk during the first quarter worth approximately $38,000. 92.86% of the stock is currently owned by institutional investors and hedge funds.

About Autodesk

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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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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