Autodesk (NASDAQ:ADSK) Issues Q3 2022 Earnings Guidance

Autodesk (NASDAQ:ADSK) updated its third quarter 2022 earnings guidance on Wednesday. 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.

Several equities research analysts recently weighed in on the company. Mizuho restated a buy rating and set a $350.00 target price (down from $370.00) on shares of Autodesk in a report on Thursday, September 2nd. Royal Bank of Canada upped their price target on Autodesk from $340.00 to $363.00 and gave the company an outperform rating in a research report on Monday, August 23rd. Barclays upped their price target on Autodesk from $340.00 to $370.00 and gave the company an overweight rating in a research report on Tuesday, August 24th. Morgan Stanley decreased their target price on Autodesk from $334.00 to $324.00 and set an equal weight rating for the company in a research report on Thursday, September 2nd. Finally, Canaccord Genuity upped their price target on Autodesk from $260.00 to $295.00 and gave the stock a buy rating in a research note on Thursday, August 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $330.11.

Autodesk stock traded up $2.70 during trading on Wednesday, reaching $285.89. The company had a trading volume of 11,427 shares, compared to its average volume of 1,312,678. Autodesk has a 52 week low of $215.83 and a 52 week high of $344.39. The firm’s 50-day simple moving average is $309.78 and its 200 day simple moving average is $292.31. The firm has a market capitalization of $62.85 billion, a price-to-earnings ratio of 47.92, a price-to-earnings-growth ratio of 2.81 and a beta of 1.32. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.23.

Autodesk (NASDAQ:ADSK) last posted its quarterly earnings results 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. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Autodesk had a return on equity of 69.10% and a net margin of 32.54%. The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, analysts predict that Autodesk will post 2.89 earnings per share for the current year.

In other news, CEO Andrew Anagnost sold 23,957 shares of Autodesk stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $315.44, for a total value of $7,556,996.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Stephen W. Hope sold 262 shares of Autodesk stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total value of $75,052.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,134 shares of company stock worth $9,917,059. Insiders own 0.11% of the company’s stock.

About Autodesk

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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