Analysts Expect Autodesk, Inc. (ADSK) Will Post Quarterly Sales of $514.77 Million
Equities research analysts expect Autodesk, Inc. (NASDAQ:ADSK) to post $514.77 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Autodesk’s earnings, with estimates ranging from $506.40 million to $533.39 million. Autodesk posted sales of $489.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.1%. The firm is expected to announce its next quarterly earnings report on Tuesday, December 5th.
According to Zacks, analysts expect that Autodesk will report full-year sales of $514.77 million for the current financial year, with estimates ranging from $2.04 billion to $2.08 billion. For the next financial year, analysts forecast that the firm will post sales of $2.56 billion per share, with estimates ranging from $2.45 billion to $2.70 billion. Zacks’ 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 quarterly earnings results on Thursday, August 24th. The software company reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.05. The business had revenue of $501.80 million for the quarter, compared to analyst estimates of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. Autodesk’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS.
ADSK has been the subject of a number of analyst reports. Evercore ISI reiterated a “buy” rating and set a $115.00 target price on shares of Autodesk in a research report on Friday, May 19th. Royal Bank Of Canada upgraded Autodesk from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $95.00 to $125.00 in a research report on Friday, May 19th. Bank of America Corporation upgraded Autodesk from an “underperform” rating to a “neutral” rating and set a $125.00 target price for the company in a research report on Friday, May 19th. Barclays PLC lifted their target price on Autodesk from $105.00 to $114.00 and gave the stock an “overweight” rating in a research report on Friday, May 19th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 target price (up from $120.00) on shares of Autodesk in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $116.35.
In other Autodesk news, insider Andrew Anagnost sold 24,004 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $112.73, for a total value of $2,705,970.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Bass sold 13,377 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $99.95, for a total value of $1,337,031.15. The disclosure for this sale can be found here. Insiders have sold 135,986 shares of company stock valued at $14,061,542 in the last ninety days. Corporate insiders own 6.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Intl Fcstone Inc. acquired a new position in shares of Autodesk during the 2nd quarter worth approximately $943,000. Toronto Dominion Bank raised its stake in shares of Autodesk by 24.4% during the 2nd quarter. Toronto Dominion Bank now owns 65,779 shares of the software company’s stock worth $6,630,000 after buying an additional 12,885 shares during the period. Cookson Peirce & Co. Inc. raised its stake in shares of Autodesk by 8.2% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 78,931 shares of the software company’s stock worth $7,958,000 after buying an additional 6,006 shares during the period. Advisory Services Network LLC raised its stake in shares of Autodesk by 74.1% during the 2nd quarter. Advisory Services Network LLC now owns 7,484 shares of the software company’s stock worth $755,000 after buying an additional 3,185 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Autodesk during the 2nd quarter worth approximately $444,000. 94.78% of the stock is owned by institutional investors.
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Shares of Autodesk (NASDAQ:ADSK) opened at 114.13 on Friday. The stock’s 50 day moving average is $111.40 and its 200-day moving average is $100.87. Autodesk has a one year low of $67.15 and a one year high of $119.73. The company’s market cap is $25.02 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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