Autodesk (NASDAQ:ADSK) Issues Q4 Earnings Guidance

Autodesk (NASDAQ:ADSK) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.10-2.16 for the period, compared to the consensus estimate of $2.12. The company issued revenue guidance of $1.623-1.638 billion, compared to the consensus revenue estimate of $1.62 billion.

Autodesk Stock Down 0.4 %

Shares of ADSK traded down $1.43 during midday trading on Tuesday, hitting $317.96. 2,403,834 shares of the company’s stock traded hands, compared to its average volume of 1,582,789. Autodesk has a 1 year low of $195.32 and a 1 year high of $326.62. The firm’s fifty day moving average is $287.47 and its 200-day moving average is $255.89. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $68.36 billion, a price-to-earnings ratio of 64.98, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Tuesday, November 26th. The software company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.05. Autodesk had a return on equity of 59.41% and a net margin of 18.21%. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Autodesk will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADSK. Barclays lifted their price target on Autodesk from $310.00 to $355.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Bank of America lifted their price target on shares of Autodesk from $260.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Scotiabank started coverage on shares of Autodesk in a report on Monday, November 18th. They set a “sector outperform” rating and a $360.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Autodesk from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price objective on Autodesk from $254.00 to $287.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Autodesk currently has an average rating of “Moderate Buy” and an average target price of $309.43.

Insider Buying and Selling at Autodesk

In other Autodesk news, COO Steven M. Blum sold 17,344 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $270.00, for a total transaction of $4,682,880.00. Following the sale, the chief operating officer now directly owns 17,099 shares in the company, valued at $4,616,730. This represents a 50.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary T. Mcdowell sold 550 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $265.50, for a total transaction of $146,025.00. Following the completion of the transaction, the director now owns 31,349 shares of the company’s stock, valued at approximately $8,323,159.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,280 shares of company stock worth $5,232,213 over the last three months. Insiders own 0.14% of the company’s stock.

About Autodesk

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing 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 tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.