Autodesk (NASDAQ: ADSK – Get a rating) updated its earnings guidance for fiscal 2023 on Thursday. The company provided EPS guidance of $6.43 to $6.66 for the period, compared to the consensus EPS estimate of 6. $69. The company released a revenue forecast of $4.96 billion to $5.06 billion, compared to the consensus revenue estimate of $5.04 billion. Autodesk also updated its guidance for the second quarter of 2023 to EPS of $1.54-1.60.
Several equity research analysts have released reports on the stock. Barclays lowered its target price on Autodesk shares from $275.00 to $230.00 and set an overweight rating on the stock in a Tuesday May 17 research note. Citigroup lowered its price target on Autodesk shares from $286.00 to $264.00 and set a buy rating on the stock in a Friday, May 20 research report. Mizuho lowered its price target on Autodesk shares from $285.00 to $250.00 and set a buy rating on the stock in a Wednesday, May 18 research report. Argus lowered its price target on Autodesk shares from $360.00 to $290.00 in a Monday, February 28 research report. Finally, Goldman Sachs Group restated a sell rating and issued a price target of $220.00 (vs. $250.00) on Autodesk shares in a Tuesday, March 8 report. Two research analysts gave the stock a sell rating, four issued a hold rating and fifteen gave the company’s stock a buy rating. According to data from MarketBeat, the stock has an average buy rating and a consensus target price of $268.75.
Shares of ADSK Action traded at $5.10 during Thursday trading hours, hitting $191.63. 2,271,019 shares were traded, against an average volume of 1,899,327. The company’s fifty-day moving average is $199.24 and its two-hundred-day moving average is $236.27. The company has a debt ratio of 2.68, a current ratio of 0.69 and a quick ratio of 0.69. Autodesk has a 12 month minimum of $173.90 and a 12 month maximum of $344.39. The company has a market capitalization of $41.73 billion, a P/E ratio of 84.84 and a beta of 1.44.
Autodesk (NASDAQ: ADSK – Get a rating) last released its results on Thursday, February 24. The software company reported earnings per share of $0.98 for the quarter, beating analysts’ consensus estimate of $0.91 by $0.07. The company posted revenue of $1.21 billion for the quarter, versus analyst estimates of $1.20 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company’s quarterly revenue increased by 16.6% compared to the same quarter last year. During the same period of the previous year, the company made earnings per share of $0.80. As a group, equity research analysts expect Autodesk to post earnings per share of 4.25 for the current fiscal year.
In related news, CFO Deborah Clifford sold 3,953 shares of the company in a transaction that took place on Wednesday, March 9. The stock was sold at an average price of $202.71, for a total value of $801,312.63. The sale was disclosed in a filing with the Securities & Exchange Commission, available via the SEC website. Additionally, CAO Stephen W. Hope sold 1,626 shares of the company in a trade that took place on Monday, March 28. The shares were sold at an average price of $212.30, for a total value of $345,199.80. Disclosure of this sale can be found here. Insiders sold 7,458 shares of the company valued at $1,545,628 in the past ninety days. 0.11% of the shares are currently held by insiders.
Several hedge funds have recently bought and sold shares of ADSK. EverSource Wealth Advisors LLC acquired a new equity stake in Autodesk in the fourth quarter worth approximately $28,000. First Manhattan Co. increased its holdings of Autodesk stock by 342.9% in the first quarter. First Manhattan Co. now owns 155 shares of the software company valued at $33,000 after acquiring an additional 120 shares during the period. Worth Asset Management LLC acquired a new equity stake in Autodesk in the first quarter worth approximately $36,000. Covestor Ltd increased its stake in Autodesk shares by 71.6% during the first quarter. Covestor Ltd now owns 508 shares in the software company worth $109,000 after buying an additional 212 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Autodesk shares by 23.4% during the first quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company worth $118,000 after buying 104 more shares during the period. 89.55% of the shares are held by institutional investors and hedge funds.
About Autodesk (Get a rating)
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land, transportation, and environmental projects; BIM 360, a cloud-based construction management software; AutoCAD, professional design, drafting, detailing, and visualization software; AutoCAD LT, drafting and detailing software; computer aided manufacturing (CAM) software for computer numerical control machining, inspection and modeling for manufacturing; Fusion 360, a 3D CAD, CAM and computer-aided engineering tool; and industry collections tools for professionals in the architecture, engineering and construction, product design and manufacturing, and media and entertainment collections industries.
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