Analysts trim and raise Autodesk price targets after Q2 results
Autodesk posted Q2 EPS of $3.30 vs $3.12 consensus and revenue of $2.05B vs $2.01B. It guided Q3 adjusted EPS $3.04-$3.09 and revenue $2.13B-$2.14B. Piper lowered its target to $338; BMO raised to $283; Guggenheim raised to $283.
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 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