Autodesk (NASDAQ:ADSK) Updates Q4 Earnings Guidance

Autodesk (NASDAQ:ADSK) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.41-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.48. The company issued revenue guidance of $1.185-1.20 billion, compared to the consensus revenue estimate of $1.20 billion.Autodesk also updated its FY 2022 guidance to $4.980-$5.040 EPS.

ADSK has been the topic of several research analyst reports. Mizuho reduced their price target on shares of Autodesk from $380.00 to $330.00 and set a buy rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Canaccord Genuity boosted their price target on shares of Autodesk from $260.00 to $295.00 and gave the company a buy rating in a research report on Thursday, August 26th. Stifel Nicolaus reduced their price target on shares of Autodesk from $365.00 to $310.00 and set a buy rating on the stock in a research report on Wednesday. KeyCorp reduced their price target on shares of Autodesk from $365.00 to $350.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Autodesk from $370.00 to $380.00 and gave the stock an outperform rating in a research note on Wednesday, November 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $337.00.

Shares of NASDAQ ADSK traded down $47.10 during midday trading on Thursday, hitting $256.90. The stock had a trading volume of 10,904,560 shares, compared to its average volume of 1,313,649. The business’s 50 day moving average is $301.09 and its 200-day moving average is $298.95. The company has a market cap of $56.48 billion, a P/E ratio of 43.47, a PEG ratio of 3.23 and a beta of 1.36. Autodesk has a 52 week low of $245.05 and a 52 week high of $344.39. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last issued its earnings results on Monday, November 22nd. The software company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, analysts expect that Autodesk will post 2.86 EPS for the current fiscal year.

In related news, CFO Deborah Clifford sold 5,481 shares of the stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total transaction of $1,588,448.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Stephen W. Hope sold 262 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $286.46, for a total transaction of $75,052.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,263 shares of company stock worth $2,384,406. 0.11% of the stock is owned by insiders.

Autodesk Company Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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