Autodesk (ADSK) Issues FY 2019 Earnings Guidance
Autodesk (NASDAQ:ADSK) updated its FY 2019 earnings guidance on Tuesday. The company provided EPS guidance of $0.95-0.99 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.93. The company issued revenue guidance of $2.533-2.543 billion, compared to the consensus revenue estimate of $2.5 billion.Autodesk also updated its Q4 2019 guidance to $0.40-0.44 EPS.
Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Autodesk from a sell rating to a hold rating in a research note on Tuesday, August 28th. BidaskClub raised shares of Autodesk from a hold rating to a buy rating in a research report on Wednesday, August 29th. Robert W. Baird increased their price target on shares of Autodesk from $155.00 to $165.00 and gave the stock an outperform rating in a research report on Friday, August 24th. Griffin Securities increased their price target on shares of Autodesk from $165.00 to $170.00 and gave the stock a buy rating in a research report on Friday, August 24th. Finally, Credit Suisse Group increased their price target on shares of Autodesk from $150.00 to $160.00 and gave the stock an outperform rating in a research report on Friday, August 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $163.74.
NASDAQ:ADSK traded down $2.69 during mid-day trading on Tuesday, hitting $123.05. The stock had a trading volume of 3,644,136 shares, compared to its average volume of 2,129,715. The stock has a market cap of $29.30 billion, a price-to-earnings ratio of -76.91, a price-to-earnings-growth ratio of 112.77 and a beta of 1.97. Autodesk has a twelve month low of $101.55 and a twelve month high of $159.94.
In other Autodesk news, CEO Andrew Anagnost sold 23,008 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $152.03, for a total value of $3,497,906.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lorrie M. Norrington sold 5,001 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $156.75, for a total transaction of $783,906.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,009 shares of company stock worth $4,431,583. 0.14% of the stock is owned by corporate insiders.
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Autodesk Company Profile
Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.
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