Autodesk (NASDAQ:ADSK) Updates FY 2022 Earnings Guidance

Autodesk (NASDAQ:ADSK) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.980-$5.040 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.990. The company issued revenue guidance of $4.36 billion-$4.38 billion, compared to the consensus revenue estimate of $4.37 billion.Autodesk also updated its FY22 guidance to $4.98-5.04 EPS.

NASDAQ ADSK traded down $47.10 during trading hours on Thursday, hitting $256.90. The company’s stock had a trading volume of 10,904,560 shares, compared to its average volume of 1,313,649. Autodesk has a 52 week low of $245.05 and a 52 week high of $344.39. The company has a market capitalization of $56.48 billion, a PE ratio of 43.47, a price-to-earnings-growth ratio of 3.23 and a beta of 1.36. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.23. The company’s 50-day simple moving average is $301.09 and its two-hundred day simple moving average is $298.95.

Autodesk (NASDAQ:ADSK) last announced its quarterly earnings results on Monday, November 22nd. The software company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. Autodesk had a net margin of 32.54% and a return on equity of 69.10%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts anticipate that Autodesk will post 2.86 EPS for the current fiscal year.

ADSK has been the subject of several analyst reports. Oppenheimer decreased their price objective on shares of Autodesk from $350.00 to $315.00 and set an outperform rating for the company in a research note on Wednesday. Canaccord Genuity increased their price objective on shares of Autodesk from $260.00 to $295.00 and gave the company a buy rating in a research note on Thursday, August 26th. Piper Sandler raised their price target on shares of Autodesk from $338.00 to $340.00 and gave the stock an overweight rating in a research note on Wednesday. Morgan Stanley raised their price target on shares of Autodesk from $324.00 to $344.00 and gave the stock an equal weight rating in a research note on Wednesday. They noted that the move was a valuation call. Finally, Stifel Nicolaus decreased their price target on shares of Autodesk from $365.00 to $310.00 and set a buy rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Autodesk has a consensus rating of Buy and a consensus target price of $337.00.

In other Autodesk news, CFO Deborah Clifford sold 5,481 shares of the business’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $289.81, for a total value of $1,588,448.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Anagnost sold 2,434 shares of the business’s stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $286.18, for a total transaction of $696,562.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,263 shares of company stock worth $2,384,406. 0.11% of the stock is owned by corporate insiders.

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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