$1.15 Billion in Sales Expected for Autodesk, Inc. (NASDAQ:ADSK) This Quarter

Equities analysts predict that Autodesk, Inc. (NASDAQ:ADSKGet Rating) will post $1.15 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Autodesk’s earnings, with the lowest sales estimate coming in at $1.15 billion and the highest estimate coming in at $1.16 billion. Autodesk reported sales of $989.30 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.2%. The company is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Autodesk will report full-year sales of $5.06 billion for the current financial year, with estimates ranging from $4.96 billion to $5.10 billion. For the next financial year, analysts forecast that the firm will post sales of $5.82 billion, with estimates ranging from $5.61 billion to $5.97 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Autodesk.

Autodesk (NASDAQ:ADSKGet Rating) last issued its quarterly earnings results on Thursday, February 24th. The software company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Autodesk had a net margin of 11.33% and a return on equity of 55.95%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 EPS.

Several analysts have commented on ADSK shares. Rosenblatt Securities decreased their price target on shares of Autodesk from $340.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, February 25th. OTR Global downgraded shares of Autodesk to a “positive” rating in a report on Thursday, February 10th. Citigroup cut their price target on shares of Autodesk from $305.00 to $286.00 and set a “buy” rating on the stock in a report on Friday, February 25th. Morgan Stanley cut their price target on shares of Autodesk from $344.00 to $277.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 23rd. Finally, Stifel Nicolaus lowered their price objective on shares of Autodesk from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $292.85.

ADSK opened at $196.54 on Tuesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 0.69 and a current ratio of 0.69. Autodesk has a fifty-two week low of $186.29 and a fifty-two week high of $344.39. The firm’s fifty day moving average is $211.83 and its 200 day moving average is $255.78. The stock has a market cap of $42.71 billion, a price-to-earnings ratio of 88.13 and a beta of 1.45.

In other news, CAO Stephen W. Hope sold 1,626 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $212.30, for a total transaction of $345,199.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Deborah Clifford sold 3,953 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $202.71, for a total transaction of $801,312.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,458 shares of company stock valued at $1,545,628. 0.11% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Curi Wealth Management LLC acquired a new position in Autodesk in the 4th quarter valued at $25,000. Gradient Investments LLC boosted its position in shares of Autodesk by 68.4% in the 4th quarter. Gradient Investments LLC now owns 96 shares of the software company’s stock worth $27,000 after buying an additional 39 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Autodesk in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Autodesk in the 4th quarter worth about $28,000. Finally, Equitec Proprietary Markets LLC purchased a new position in Autodesk in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 88.07% of the company’s stock.

About Autodesk (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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