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8 Fast-Growing Stocks You Should Own Right Now in 2020 - 2 of 9

#1 - Autodesk (NASDAQ:ADSK)

Autodesk logo

Autodesk (NASDAQ: ADSK) - Our first stock is Autodesk. This stock is up an impressive 38% since the start of 2019. Software-as-a-Service (SaaS) is becoming a vital part of the new economy. In late December, ADSK completed an acquisition of PlanGrid, a construction productivity software provider. This has helped propel the stock as investors and analysts recognize how PlanGrid will complement Autodesk’s construction portfolio in helping real estate owners and contractors manage the bid process in the preconstruction phase. Autodesk is also showing a strong ability to add new subscribers to their architectural and engineering software that includes a large collection of 3D modeling and computer-aided drafting (CAD) platforms. And the company is also doing a good job of converting current customers to move from a maintenance plan to a subscription plan. All this means that revenue is surging and investors are noticing. Autodesk had a strong fourth quarter of 2018 that was largely shrugged off by investors (the stock actually went down 11% in December). However, since the beginning of the year, the stock has been surging forward, and with revenue and GAAP earnings per share (EPS) projected to increase 27% year-over-year by the middle of 2019, the gains of the past six months look to be anything but a fluke.

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. It also provides Inventor tools for 3D mechanical design, simulation, analysis, tooling, visualization, and documentation; Maya and 3ds Max software products that offer 3D modeling, animation, effects, rendering, and compositing solutions; and PlanGrid, a cloud-based field collaboration software, which provides general contractors, subcontractors, owners, and architects access to construction information in real-time. In addition, the company offers Revit software for building information modeling; and Shotgun, a cloud-based software for review and production tracking in the media and entertainment industry. Autodesk, Inc. sells its products and services to customers directly, as well as through distributors and resellers. The company was founded in 1982 and is headquartered in San Rafael, California.

Current Price: $208.95
Consensus Rating: Hold
Ratings Breakdown: 12 Buy Ratings, 6 Hold Ratings, 3 Sell Ratings.
Consensus Price Target: $191.29 (-8.5% Upside)

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