Autodesk (NASDAQ:ADSK) Announces Earnings Results, Beats Expectations By $0.05 EPS

Autodesk (NASDAQ:ADSK) issued its quarterly earnings results on Tuesday. The software company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.05, Briefing.com reports. Autodesk had a net margin of 18.21% and a return on equity of 59.41%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Autodesk’s quarterly revenue was up 11.0% on a year-over-year basis. Autodesk updated its Q4 guidance to $2.10-2.16 EPS.

Autodesk Trading Down 0.4 %

Autodesk stock traded down $1.43 during midday trading on Tuesday, hitting $317.96. 2,466,512 shares of the stock were exchanged, compared to its average volume of 1,582,789. The stock’s 50-day simple moving average is $287.47 and its 200 day simple 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 PEG ratio of 4.10 and a beta of 1.47. Autodesk has a fifty-two week low of $195.32 and a fifty-two week high of $326.62.

Insider Activity

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 Autodesk stock in a transaction on Monday, September 16th. The shares were sold at an average price of $265.50, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,280 shares of company stock valued at $5,232,213 in the last quarter. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADSK shares. Robert W. Baird raised their target price on shares of Autodesk from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, November 18th. BMO Capital Markets lifted their target price on shares of Autodesk from $254.00 to $287.00 and gave the company a “market perform” rating in a report on Friday, August 30th. The Goldman Sachs Group upgraded shares of Autodesk from a “sell” rating to a “neutral” rating and raised their price target for the company from $225.00 to $295.00 in a research report on Tuesday, September 3rd. Bank of America upped their price objective on shares of Autodesk from $260.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Piper Sandler raised their target price on Autodesk from $239.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.43.

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.