$642.33 Million in Sales Expected for Autodesk, Inc. (ADSK) This Quarter

Wall Street brokerages expect Autodesk, Inc. (NASDAQ:ADSK) to post $642.33 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for Autodesk’s earnings. The highest sales estimate is $652.60 million and the lowest is $636.19 million. Autodesk posted sales of $515.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.7%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, November 20th.

On average, analysts expect that Autodesk will report full-year sales of $2.50 billion for the current year, with estimates ranging from $2.49 billion to $2.52 billion. For the next financial year, analysts expect that the company will post sales of $3.15 billion, with estimates ranging from $2.98 billion to $3.23 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Autodesk.

Autodesk (NASDAQ:ADSK) last posted its earnings results on Thursday, August 23rd. The software company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $612.00 million for the quarter, compared to analyst estimates of $600.36 million. Autodesk had a negative net margin of 18.52% and a negative return on equity of 3,087.49%. Autodesk’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS.

A number of analysts recently weighed in on ADSK shares. JPMorgan Chase & Co. upped their target price on shares of Autodesk from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, August 24th. Griffin Securities upped their target price on shares of Autodesk from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, August 24th. ValuEngine lowered shares of Autodesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Robert W. Baird upped their target price on shares of Autodesk from $155.00 to $165.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Finally, Canaccord Genuity upped their target price on shares of Autodesk from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $163.74.

In other news, Director Lorrie M. Norrington sold 5,001 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $156.75, for a total value of $783,906.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Anagnost sold 23,008 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $152.03, for a total transaction of $3,497,906.24. The disclosure for this sale can be found here. Insiders sold a total of 29,009 shares of company stock worth $4,431,583 in the last three months. Insiders own 0.14% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Autodesk by 2.1% in the 3rd quarter. BlackRock Inc. now owns 17,172,820 shares of the software company’s stock valued at $2,680,848,000 after purchasing an additional 356,914 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Autodesk by 1.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 11,036,081 shares of the software company’s stock valued at $1,722,843,000 after purchasing an additional 173,531 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Autodesk by 3.0% in the 3rd quarter. Capital Research Global Investors now owns 6,673,349 shares of the software company’s stock valued at $1,041,777,000 after purchasing an additional 195,972 shares in the last quarter. Capital World Investors boosted its stake in shares of Autodesk by 214.7% in the 3rd quarter. Capital World Investors now owns 5,079,079 shares of the software company’s stock valued at $792,895,000 after purchasing an additional 3,465,109 shares in the last quarter. Finally, Jackson Square Partners LLC boosted its stake in shares of Autodesk by 3.7% in the 3rd quarter. Jackson Square Partners LLC now owns 3,156,075 shares of the software company’s stock valued at $492,694,000 after purchasing an additional 111,716 shares in the last quarter. 95.88% of the stock is owned by institutional investors.

Autodesk stock opened at $125.74 on Friday. The company has a market cap of $29.30 billion, a P/E ratio of -78.59, a PEG ratio of 112.77 and a beta of 1.97. Autodesk has a 1-year low of $101.55 and a 1-year high of $159.94.

About Autodesk

Autodesk, Inc operates as a design software and services company worldwide. The company offers AutoCAD, a professional design, drafting, detailing, and visualization software; and AutoCAD LT, a professional drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; and AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects.

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