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Based in San Francisco, Autodesk, Inc. (ADSK) is a global leader in software and services for the architecture, engineering, construction, manufacturing, media, and entertainment industries. It is renowned for its innovative solutions; Autodesk's portfolio includes flagship products such as AutoCAD, Revit, and Maya. With a market cap of $51.91 billion, Autodesk is known for empowering users to design and make a better world through cutting-edge technology. ADSK is scheduled to announce its fiscal Q2 earnings results on Wednesday, Aug. 28.
Ahead of the event, analysts expect ADSK to report a profit of $1.35 per share, up 20.5% from $1.12 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.29 per share for the last reported quarter surpassed the consensus estimate by 8.4%. Autodesk's previous quarter performance was driven by strong subscription revenue growth and higher-than-expected "Other" revenue.
For fiscal 2024, analysts expect ADSK to report EPS of $5.55, up 27.9% from $4.34 in fiscal 2023.
ADSK stock is down marginally on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 14.9% gains and the S&P 500 Technology Sector SPDR's (XLK) 13.2% returns over the same time frame.
ADSK stock rose 5.5% following its Q1 earnings result on June 11 due to better-than-expected revenue and earnings performance and reaffirmation of full-year guidance.
The consensus opinion on ADSK stock is optimistic, with an overall “Moderate Buy” rating. Out of the 20 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” eight recommends a “Hold,” and one advises a “Strong Sell.”
This configuration is less bullish than three months ago when the stock had 11 “Strong Buy” ratings. ADSK's average analyst price target is $265.58, indicating a potential upside of 9.7% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
