Autodesk Shares Rise After Company Reports Narrower Quarterly Loss

Comparative analysis based on Autodesk’s financial results in the last 12 quarters
Comparative analysis based on Autodesk’s financial results in the last 12 quarters
Author

19 May, 2017

Autodesk, Inc. (NASDAQ:ADSK) issued its quarterly earnings results on Thursday. Over the long run, the price of a stock will generally go up in lock step with its earnings (assuming the P/E ratio is constant). This consensus target is compiled using analysts polled by Thomson Reuters. Credit Suisse Group AG started coverage on Autodesk in a research note on Thursday, April 27th. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. Pacific Crest reaffirmed an "overweight" rating and set a $105.00 price target on shares of Autodesk in a report on Monday, May 8th.

After a look at recent stock performance, Autodesk, Inc. The software company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.07. The recommendation scale measures the value from 1 to 5, where 1 means "Buy" and 5 stands for "Sell".

Shares of Autodesk (NASDAQ:ADSK) traded up 15.3047% on Tuesday, reaching $110.4965. Autodesk had a negative return on equity of 13.74% and a negative net margin of 20.30%.

Autodesk, Inc. (ADSK)'s distance from 200 day simple moving average is 23.32 percent, its distance from 50 day simple moving average is 8.24 percent, while its distance from 20 day simple moving average is 3.21 percent.

The High Revenue estimate is predicted as 479.2 Million, while the Low Revenue Estimate prediction stands at 460.8 Million. (ADSK) has an Analysts' Mean Recommendation of 2.1, according to data compiled by Finviz.

During Autodesk's transition, revenue is negatively impacted as more revenue is recognized ratably rather than up front and as new offerings generally have a lower initial purchase price. "Strong transition-related metrics coupled with better than expected revenue and diligent cost control led to a terrific first quarter and provide us with confidence in achieving our transition-related targets". During the same period a year ago, the firm posted ($0.10) earnings per share. This calculation is derived by dividing the current share price by the projected earnings per share.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and worldwide copyright and trademark law. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/05/19/autodesk-inc-adsk-given-buy-rating-at-evercore-isi.html. The stock was sold at an average price of $95.73, for a total transaction of $274,266.45.

On 4/17/2017 Jan Becker, SVP, sold 3,089 with an average share price of $85.37 per share and the total transaction amounting to $263,707.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1,769,575 shares of the company traded hands. The disclosure for this sale can be found here.

Several large investors have recently made changes to their positions in ADSK. Finally, Elkfork Partners LLC raised its stake in Autodesk by 0.7% in the first quarter. Insiders own 6.20% of the company's stock. Elkfork Partners LLC now owns 6,138 shares of the software company's stock worth $531,000 after buying an additional 44 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Autodesk by 144.6% in the third quarter. Griffin Securities lifted their target price on shares of Autodesk from $94.00 to $99.00 and gave the stock a "buy" rating in a research note on Friday, March 3rd. Institutional investors and hedge funds own 97.13% of the company's stock.


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