These Analysts Revise Their Forecasts On Autodesk Following Q2 Results

Benzinga Earnings
Aug 28

Autodesk Inc (NASDAQ:ADSK) on Thursday reported upbeat second-quarter financial results and issued third-quarter EPS guidance below estimates.

Autodesk reported quarterly earnings of $3.30 per share, which beat the analyst consensus estimate of $3.12 by 5.77%, according to Benzinga Pro data. Quarterly revenue of $2.05 billion beat the Street estimate of $2.01 billion.

"We delivered strong second quarter results with consistent execution and momentum. Our sales reorganization is proceeding as expected," said Janesh Moorjani, Autodesk CFO.

Autodesk expects third-quarter adjusted EPS of $3.04-$3.09, versus the $3.14 analyst estimate, and expects revenue of $2.13 billion to $2.14 billion, versus the $2.08 billion estimate.

Autodesk shares fell 4% to trade at $259.74 on Friday.

These analysts made changes to their price targets on Autodesk following earnings announcement.

  • Piper Sandler analyst Clarke Jeffries maintained the stock with an Overweight rating and lowered the price target from $369 to $338.
  • BMO Capital analyst Daniel Jester maintained the stock with a Market Perform and raised the price target from $262 to $283.
  • Guggenheim analyst Tamjid Chowdhury maintained the stock with a Buy and boosted the price target from $277 to $283.

Considering buying ADSK stock? Here’s what analysts think:

Photo via Shutterstock

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