Autodesk (NASDAQ:ADSK) Updates Q3 2022 Earnings Guidance

Autodesk (NASDAQ:ADSK) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $1.220-$1.280 for the period, compared to the Thomson Reuters consensus estimate of $1.260. The company issued revenue guidance of $1.11 billion-$1.13 billion, compared to the consensus revenue estimate of $1.11 billion.Autodesk also updated its FY 2022 guidance to $4.910-$5.060 EPS.

A number of equities research analysts have recently weighed in on the stock. Guggenheim reissued a hold rating on shares of Autodesk in a report on Monday, September 6th. Morgan Stanley cut their price objective on Autodesk from $334.00 to $324.00 and set an equal weight rating on the stock in a report on Thursday, September 2nd. Mizuho reaffirmed a buy rating and set a $350.00 target price (down previously from $370.00) on shares of Autodesk in a report on Thursday, September 2nd. Rosenblatt Securities upped their target price on Autodesk from $320.00 to $355.00 and gave the company a buy rating in a research report on Tuesday, August 24th. Finally, KeyCorp raised their price target on shares of Autodesk from $345.00 to $365.00 and gave the stock an overweight rating in a research report on Thursday, August 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $330.11.

Shares of Autodesk stock traded up $3.49 on Wednesday, hitting $282.84. The company’s stock had a trading volume of 11,129 shares, compared to its average volume of 1,310,957. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 47.27, a price-to-earnings-growth ratio of 2.81 and a beta of 1.32. Autodesk has a 1 year low of $215.83 and a 1 year high of $344.39. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a fifty day moving average price of $310.62 and a 200-day moving average price of $291.84.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings data on Tuesday, August 24th. The software company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.08. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. As a group, analysts forecast that Autodesk will post 2.89 EPS for the current year.

In related news, CFO Deborah Clifford sold 5,481 shares of the business’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $289.81, for a total transaction of $1,588,448.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of Autodesk stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $286.18, for a total transaction of $696,562.12. The disclosure for this sale can be found here. Insiders have sold 32,134 shares of company stock valued at $9,917,059 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Autodesk Company Profile

Autodesk, Inc engages in the design of software and services. Its products include AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Revit, Shotgun, 3ds Max. The firm also offers product development and manufacturing software, which provides manufacturers in automotive, transportation, industrial machinery, consumer products, and building product industries with comprehensive digital design, engineering, and production solutions; architecture, engineering, and construction software improves the way buildings, factories, and infrastructure are designed, built, and used; and digital media and entertainment, which consists of tools for digital sculpting, modeling, animation, effects, rendering, and compositing for design visualization, visual effects, and games production.

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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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