Autodesk (NASDAQ:ADSK - Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.43-$6.66 for the period, compared to the consensus estimate of $6.69. The company issued revenue guidance of $4.96 billion-$5.06 billion, compared to the consensus revenue estimate of $5.04 billion. Autodesk also updated its Q2 2023 guidance to $1.54-$1.60 EPS.
A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Autodesk from a hold rating to a buy rating in a research report on Thursday, June 2nd. The Goldman Sachs Group reduced their price objective on shares of Autodesk from $210.00 to $185.00 and set a sell rating for the company in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Autodesk from a buy rating to a hold rating and reduced their price objective for the stock from $275.00 to $225.00 in a research report on Monday, May 23rd. Barclays reduced their price objective on shares of Autodesk from $230.00 to $216.00 and set an overweight rating for the company in a research report on Friday, May 27th. Finally, KeyCorp reduced their price objective on shares of Autodesk from $260.00 to $250.00 and set an overweight rating for the company in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $263.74.
Shares of ADSK stock opened at $169.15 on Thursday. The stock has a market capitalization of $36.75 billion, a P/E ratio of 76.89 and a beta of 1.43. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.35. The firm's 50 day moving average is $191.20 and its 200 day moving average is $221.53. Autodesk has a 12 month low of $163.20 and a 12 month high of $344.39.
Autodesk (NASDAQ:ADSK - Get Rating) last posted its earnings results on Thursday, May 26th. The software company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Autodesk had a net margin of 10.67% and a return on equity of 68.41%. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the company posted $1.03 EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Autodesk will post 3.97 EPS for the current year.
In other news, EVP Rebecca Pearce sold 1,608 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $207.86, for a total value of $334,238.88. Following the transaction, the executive vice president now owns 19,325 shares of the company's stock, valued at approximately $4,016,894.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Stephen W. Hope sold 1,626 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $212.30, for a total transaction of $345,199.80. The disclosure for this sale can be found here. Insiders sold a total of 5,113 shares of company stock worth $1,078,554 over the last quarter. Corporate insiders own 0.11% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the stock. First Manhattan Co. grew its holdings in shares of Autodesk by 342.9% during the 1st quarter. First Manhattan Co. now owns 155 shares of the software company's stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Worth Asset Management LLC bought a new stake in Autodesk in the 1st quarter worth $36,000. Covestor Ltd grew its holdings in Autodesk by 71.6% in the 1st quarter. Covestor Ltd now owns 508 shares of the software company's stock worth $109,000 after acquiring an additional 212 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Autodesk by 23.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 549 shares of the software company's stock worth $118,000 after acquiring an additional 104 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in Autodesk by 8.7% in the 1st quarter. Zions Bancorporation N.A. now owns 635 shares of the software company's stock worth $136,000 after acquiring an additional 51 shares during the last quarter. 89.55% of the stock is currently owned by institutional investors.
Autodesk Company Profile (Get Rating)
Autodesk, Inc provides 3D design, engineering, and entertainment software and services worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BIM 360, a construction management cloud-based software; 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.
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