Wedbush Equities Analysts Reduce Earnings Estimates for Autodesk, Inc. (ADSK)

Autodesk, Inc. (NASDAQ:ADSK) – Research analysts at Wedbush decreased their Q1 2020 earnings per share (EPS) estimates for Autodesk in a report issued on Tuesday, May 14th. Wedbush analyst S. Koenig now forecasts that the software company will post earnings of $0.24 per share for the quarter, down from their prior estimate of $0.25. Wedbush has a “Neutral” rating and a $166.00 price objective on the stock. Wedbush also issued estimates for Autodesk’s Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.53 EPS and FY2020 earnings at $1.89 EPS.

Autodesk (NASDAQ:ADSK) last issued its quarterly earnings results on Thursday, February 28th. The software company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $737.30 million during the quarter, compared to the consensus estimate of $707.09 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

A number of other analysts also recently issued reports on ADSK. Zacks Investment Research downgraded Autodesk from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. BidaskClub upgraded Autodesk from a “hold” rating to a “buy” rating in a research report on Thursday, February 14th. Deutsche Bank raised their price target on Autodesk to $180.00 and gave the stock a “buy” rating in a research report on Thursday, February 21st. Royal Bank of Canada raised their price target on Autodesk from $163.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, February 25th. Finally, KeyCorp raised their price target on Autodesk from $168.00 to $184.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $173.49.

Shares of ADSK opened at $176.68 on Thursday. The firm has a market capitalization of $36.31 billion, a P/E ratio of 1,606.18, a P/E/G ratio of 2.46 and a beta of 1.95. Autodesk has a 52-week low of $117.72 and a 52-week high of $178.95.

In other news, Director Crawford W. Beveridge sold 1,000 shares of Autodesk stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $152.90, for a total transaction of $152,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven M. Blum sold 16,838 shares of Autodesk stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $168.68, for a total value of $2,840,233.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,577 shares of company stock valued at $9,509,716. Corporate insiders own 0.12% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its holdings in shares of Autodesk by 7.5% in the first quarter. Signaturefd LLC now owns 841 shares of the software company’s stock valued at $131,000 after acquiring an additional 59 shares in the last quarter. Harfst & Associates Inc. raised its holdings in shares of Autodesk by 3.5% in the first quarter. Harfst & Associates Inc. now owns 1,769 shares of the software company’s stock valued at $275,000 after acquiring an additional 60 shares in the last quarter. FIL Ltd raised its holdings in shares of Autodesk by 0.7% in the first quarter. FIL Ltd now owns 8,469 shares of the software company’s stock valued at $1,320,000 after acquiring an additional 62 shares in the last quarter. L & S Advisors Inc raised its holdings in shares of Autodesk by 1.3% in the fourth quarter. L & S Advisors Inc now owns 5,577 shares of the software company’s stock valued at $717,000 after acquiring an additional 70 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its holdings in shares of Autodesk by 3.5% in the fourth quarter. Commonwealth Bank of Australia now owns 2,148 shares of the software company’s stock valued at $274,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 95.60% of the company’s stock.

Autodesk Company Profile

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.

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Earnings History and Estimates for Autodesk (NASDAQ:ADSK)

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