Autodesk (NASDAQ:ADSK) Updates FY 2022 Earnings Guidance

Autodesk (NASDAQ:ADSK) updated its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.910-$5.060 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.900. The company issued revenue guidance of $4.35 billion-$4.39 billion, compared to the consensus revenue estimate of $4.36 billion.Autodesk also updated its Q3 2022 guidance to $1.220-$1.280 EPS.

NASDAQ ADSK traded up $3.49 on Wednesday, hitting $282.84. 11,129 shares of the stock were exchanged, compared to its average volume of 1,310,957. The company’s 50-day moving average price is $310.62 and its two-hundred day moving average price is $291.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.50 and a quick ratio of 0.50. Autodesk has a 52-week low of $215.83 and a 52-week high of $344.39. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 47.27, a P/E/G ratio of 2.81 and a beta of 1.32.

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

A number of research firms have recently issued reports on ADSK. Zacks Investment Research raised shares of Autodesk from a sell rating to a hold rating and set a $324.00 price target for the company in a research report on Wednesday, July 28th. Morgan Stanley decreased their target price on shares of Autodesk from $334.00 to $324.00 and set an equal weight rating for the company in a research note on Thursday, September 2nd. Royal Bank of Canada upped their price target on shares of Autodesk from $340.00 to $363.00 and gave the stock an outperform rating in a research note on Monday, August 23rd. Canaccord Genuity lifted their price objective on Autodesk from $260.00 to $295.00 and gave the company a buy rating in a research report on Thursday, August 26th. Finally, Mizuho reaffirmed a buy rating and issued a $350.00 target price (down from $370.00) on shares of Autodesk in a research report on Thursday, September 2nd. One equities 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, Autodesk has an average rating of Buy and a consensus price target of $330.11.

In other news, CAO Stephen W. Hope sold 262 shares of the stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $286.46, for a total value of $75,052.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Deborah Clifford sold 5,481 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total transaction of $1,588,448.61. The disclosure for this sale can be found here. In the last three months, insiders sold 32,134 shares of company stock worth $9,917,059. Insiders own 0.11% of the company’s stock.

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.

Further Reading: 52-week highs

Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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