Autodesk, Inc. (NASDAQ:ADSK) Expected to Post Quarterly Sales of $789.49 Million

Analysts expect that Autodesk, Inc. (NASDAQ:ADSK) will post sales of $789.49 million for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Autodesk’s earnings, with estimates ranging from $783.40 million to $806.00 million. Autodesk reported sales of $611.70 million during the same quarter last year, which would indicate a positive year over year growth rate of 29.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 22nd.

On average, analysts expect that Autodesk will report full-year sales of $3.28 billion for the current year, with estimates ranging from $3.23 billion to $3.30 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.99 billion, with estimates ranging from $3.72 billion to $4.08 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Autodesk.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results on Thursday, May 23rd. The software company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $735.50 million for the quarter, compared to analyst estimates of $740.14 million. Autodesk had a negative return on equity of 26.61% and a negative net margin of 0.82%. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share.

Several equities analysts recently weighed in on the stock. Deutsche Bank raised their price objective on shares of Autodesk to $180.00 and gave the company a “buy” rating in a research report on Thursday, February 21st. Royal Bank of Canada lifted their price target on Autodesk from $163.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, February 25th. Zacks Investment Research cut Autodesk from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. KeyCorp lifted their price target on Autodesk from $168.00 to $184.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Canaccord Genuity lifted their price target on Autodesk from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $172.31.

Shares of ADSK stock traded down $0.12 during trading on Wednesday, hitting $158.04. 53,466 shares of the company were exchanged, compared to its average volume of 1,835,527. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 1,437.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.92. The business’s 50-day moving average is $168.55. Autodesk has a twelve month low of $117.72 and a twelve month high of $178.95.

In other news, Director Crawford W. Beveridge sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $161.09, for a total value of $161,090.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Blasing sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $164.54, for a total value of $213,902.00. The disclosure for this sale can be found here. Insiders have sold a total of 40,598 shares of company stock valued at $6,673,861 over the last three months. Company insiders own 0.12% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc grew its position in shares of Autodesk by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 22,839,276 shares of the software company’s stock valued at $3,565,439,000 after purchasing an additional 128,028 shares during the period. BlackRock Inc. boosted its position in Autodesk by 0.8% during the 4th quarter. BlackRock Inc. now owns 17,305,793 shares of the software company’s stock worth $2,225,700,000 after acquiring an additional 132,973 shares during the last quarter. FMR LLC boosted its position in Autodesk by 2.2% during the 1st quarter. FMR LLC now owns 9,039,419 shares of the software company’s stock worth $1,408,523,000 after acquiring an additional 190,871 shares during the last quarter. Geode Capital Management LLC boosted its position in Autodesk by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 2,869,972 shares of the software company’s stock worth $368,471,000 after acquiring an additional 214,397 shares during the last quarter. Finally, Brown Advisory Inc. boosted its position in Autodesk by 7.0% during the 4th quarter. Brown Advisory Inc. now owns 2,773,645 shares of the software company’s stock worth $356,718,000 after acquiring an additional 182,278 shares during the last quarter. 92.96% of the stock is owned by institutional investors.

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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