Analysts Anticipate Autodesk, Inc. (ADSK) Will Announce Quarterly Sales of $514.77 Million
Equities analysts expect Autodesk, Inc. (NASDAQ:ADSK) to report $514.77 million in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Autodesk’s earnings. The lowest sales estimate is $506.40 million and the highest is $533.39 million. Autodesk reported sales of $489.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The company is expected to report its next 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 year, with estimates ranging from $2.04 billion to $2.08 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.56 billion per share, with estimates ranging from $2.45 billion to $2.70 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Autodesk.
Autodesk (NASDAQ:ADSK) last released its quarterly earnings data on Thursday, August 24th. The software company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.05. The company had revenue of $501.80 million during the quarter, compared to analysts’ expectations of $493.98 million. Autodesk had a negative net margin of 30.01% and a negative return on equity of 60.14%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS.
ADSK has been the subject of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and set a $115.00 price target on shares of Autodesk in a research report on Wednesday, June 21st. Cowen and Company reiterated a “buy” rating and set a $115.00 price target on shares of Autodesk in a research report on Friday, August 18th. Berenberg Bank initiated coverage on shares of Autodesk in a research report on Wednesday, August 23rd. They set a “buy” rating and a $136.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and set a $125.00 price target (up from $120.00) on shares of Autodesk in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Autodesk from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Autodesk presently has a consensus rating of “Buy” and a consensus target price of $118.26.
In related news, insider Andrew Anagnost sold 24,004 shares of Autodesk stock in a transaction that occurred on Monday, August 28th. The shares were 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 is accessible through this link. Also, SVP Fronzo Pascal W. Di sold 580 shares of Autodesk stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $110.91, for a total transaction of $64,327.80. The disclosure for this sale can be found here. Insiders sold 60,212 shares of company stock valued at $6,742,238 in the last quarter. 6.10% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its stake in Autodesk by 4.2% in the second quarter. Parallel Advisors LLC now owns 1,093 shares of the software company’s stock worth $121,000 after acquiring an additional 44 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $150,000. IFP Advisors Inc lifted its position in shares of Autodesk by 9.3% during the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the software company’s stock worth $171,000 after buying an additional 145 shares during the last quarter. Kanawha Capital Management LLC purchased a new stake in shares of Autodesk during the 2nd quarter worth approximately $202,000. Finally, First Personal Financial Services lifted its position in shares of Autodesk by 896.0% during the 2nd quarter. First Personal Financial Services now owns 2,002 shares of the software company’s stock worth $202,000 after buying an additional 1,801 shares during the last quarter. Institutional investors own 94.79% of the company’s stock.
Shares of Autodesk (NASDAQ ADSK) opened at 114.05 on Thursday. The firm has a 50-day moving average of $112.64 and a 200 day moving average of $103.46. Autodesk has a 52-week low of $67.15 and a 52-week high of $119.73. The stock’s market capitalization is $25.00 billion.
Autodesk Company Profile
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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