Autodesk (NASDAQ:ADSK) Posts Earnings Results, Beats Expectations By $0.06 EPS

Autodesk (NASDAQ:ADSK) issued its quarterly earnings data on Tuesday. The software company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06, RTT News reports. Autodesk had a negative return on equity of 59.32% and a net margin of 1.95%. The company had revenue of $842.70 million for the quarter, compared to the consensus estimate of $823.95 million. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue was up 27.5% compared to the same quarter last year.

Shares of NASDAQ:ADSK opened at $180.18 on Thursday. The stock’s 50-day moving average price is $153.01 and its 200-day moving average price is $157.15. Autodesk has a 12-month low of $117.72 and a 12-month high of $180.62. The stock has a market capitalization of $37.08 billion, a P/E ratio of 1,638.00, a price-to-earnings-growth ratio of 2.96 and a beta of 1.85.

ADSK has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Autodesk from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. ValuEngine downgraded Autodesk from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Deutsche Bank downgraded Autodesk from a “buy” rating to a “hold” rating and lowered their price target for the company from $180.00 to $165.00 in a research report on Thursday, August 15th. Stifel Nicolaus raised their price target on Autodesk from $160.00 to $190.00 and gave the company an “in-line” rating in a research report on Wednesday. Finally, Wells Fargo & Co lowered their price target on Autodesk from $200.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $177.76.

In other news, CAO Stephen W. Hope sold 856 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $152.25, for a total transaction of $130,326.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 1,154 shares of company stock worth $175,163 over the last ninety days. Insiders own 0.12% of the company’s stock.

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.

Further Reading: Bond

Earnings History for Autodesk (NASDAQ:ADSK)

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