$493.85 Million in Sales Expected for Autodesk, Inc. (ADSK) This Quarter
Wall Street brokerages forecast that Autodesk, Inc. (NASDAQ:ADSK) will announce $493.85 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Autodesk’s earnings. The lowest sales estimate is $481.40 million and the highest is $503.80 million. Autodesk reported sales of $550.70 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 10.3%. The company is expected to issue its next quarterly earnings report on Thursday, August 24th.
According to Zacks, analysts expect that Autodesk will report full-year sales of $493.85 million for the current fiscal year, with estimates ranging from $2.03 billion to $2.07 billion. For the next fiscal year, analysts expect that the business will post sales of $2.57 billion per share, with estimates ranging from $2.46 billion to $2.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Autodesk.
Autodesk (NASDAQ:ADSK) last announced its quarterly earnings data on Thursday, May 18th. The software company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Autodesk had a negative net margin of 26.99% and a negative return on equity of 36.65%. The firm had revenue of $485.70 million for the quarter, compared to analysts’ expectations of $470.27 million. During the same period last year, the firm earned ($0.10) earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis.
ADSK has been the topic of a number of analyst reports. Evercore ISI reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Autodesk in a research note on Wednesday. ValuEngine raised shares of Autodesk from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Pacific Crest reissued an “overweight” rating and set a $105.00 target price on shares of Autodesk in a research note on Monday, May 8th. Cowen and Company reissued an “outperform” rating and set a $105.00 target price (up from $95.00) on shares of Autodesk in a research note on Wednesday, May 17th. Finally, TheStreet lowered shares of Autodesk from a “c-” rating to a “d” rating in a research note on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Autodesk presently has a consensus rating of “Buy” and an average price target of $103.94.
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In other news, SVP Steven M. Blum sold 9,856 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $84.43, for a total value of $832,142.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Andrew Anagnost sold 3,954 shares of the stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $85.27, for a total transaction of $337,157.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,891 shares of company stock valued at $9,088,583. 6.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ADSK. BlackRock Inc. increased its stake in shares of Autodesk by 3,291.0% in the first quarter. BlackRock Inc. now owns 15,261,046 shares of the software company’s stock valued at $1,319,622,000 after buying an additional 14,810,994 shares in the last quarter. FMR LLC increased its stake in shares of Autodesk by 13.9% in the first quarter. FMR LLC now owns 30,271,360 shares of the software company’s stock valued at $2,617,565,000 after buying an additional 3,698,259 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Autodesk by 104.4% in the first quarter. Wellington Management Group LLP now owns 4,725,602 shares of the software company’s stock valued at $408,622,000 after buying an additional 2,413,134 shares in the last quarter. Norges Bank purchased a new stake in shares of Autodesk during the fourth quarter valued at approximately $119,478,000. Finally, Vanguard Group Inc. increased its stake in shares of Autodesk by 3.3% in the first quarter. Vanguard Group Inc. now owns 19,951,299 shares of the software company’s stock valued at $1,725,188,000 after buying an additional 633,999 shares in the last quarter. Institutional investors own 97.53% of the company’s stock.
Autodesk (NASDAQ ADSK) opened at 107.75 on Friday. Autodesk has a 12 month low of $49.82 and a 12 month high of $114.68. The stock’s 50 day moving average is $104.35 and its 200-day moving average is $88.57. The company’s market capitalization is $23.75 billion.
Autodesk, Inc is a design software and services company, offering customers productive business solutions through technology products and services. The Company’s segments include Architecture, Engineering and Construction (AEC), Platform Solutions and Emerging Business (PSEB), Manufacturing (MFG), and Media and Entertainment (M&E).
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