Autodesk (ADSK) Releases Q2 2020 Earnings Guidance

Autodesk (NASDAQ:ADSK) issued an update on its second quarter 2020 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.59-0.63 for the period, compared to the Thomson Reuters consensus estimate of $0.62. The company issued revenue guidance of $782-792 million, compared to the consensus revenue estimate of $788.53 million.Autodesk also updated its FY 2020 guidance to $2.71-2.90 EPS.

NASDAQ:ADSK traded down $4.49 during trading hours on Thursday, reaching $169.54. 2,036,995 shares of the stock were exchanged, compared to its average volume of 1,712,856. Autodesk has a twelve month low of $117.72 and a twelve month high of $178.95. The stock has a market capitalization of $38.31 billion, a price-to-earnings ratio of 1,541.27, a price-to-earnings-growth ratio of 2.60 and a beta of 1.95.

Autodesk (NASDAQ:ADSK) last released its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $737.30 million for the quarter, compared to analyst estimates of $707.09 million. During the same quarter last year, the company earned ($0.09) earnings per share. As a group, equities analysts predict that Autodesk will post 1.76 earnings per share for the current fiscal year.

A number of research analysts have commented on ADSK shares. Evercore ISI restated a buy rating and set a $190.00 price target on shares of Autodesk in a research note on Thursday, March 21st. Argus upped their price target on Autodesk to $184.00 and gave the stock an average rating in a research note on Tuesday, March 5th. They noted that the move was a valuation call. Zacks Investment Research cut Autodesk from a hold rating to a sell rating in a research note on Wednesday, January 23rd. Wedbush restated a neutral rating and set a $163.00 price target on shares of Autodesk in a research note on Friday, March 29th. Finally, BidaskClub cut Autodesk from a buy rating to a hold rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $173.49.

In other news, SVP Steven M. Blum sold 16,838 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $168.68, for a total transaction of $2,840,233.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Fronzo Pascal W. Di sold 11,437 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $166.86, for a total value of $1,908,377.82. The disclosure for this sale can be found here. Insiders have sold 58,577 shares of company stock worth $9,509,716 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

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About Autodesk

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.

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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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