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Investor’s Update: Autodesk (NASDAQ:ADSK)

Investor’s Update: Autodesk (NASDAQ:ADSK)
Written by
Alex Carlson
Published on
October 13, 2014
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[Business Wire] Autodesk, Inc. (NASDAQ:ADSK) reiterated its business outlook for its third quarter and full year fiscal 2015. The design and engineering software leader will also share plans for expanding its market opportunity and transitioning to a more recurring business model at its annual Investor Day, held in the Autodesk Gallery in San Francisco.“We continue to be optimistic about our near-term opportunities and long term growth prospects,” said Carl Bass, Autodesk president and CEO. “More and more designers, engineers and creative artists are recognizing the value of Autodesk and subscribing to our maintenance, desktop, and cloud offerings. At our Investor Day event today we will discuss the reasons for our confidence in our transition to a subscription-based business model and how it supports the re-affirmation of our long-term strategy.”Stock PerformanceTaking a look at the company’s recent performance, Autodesk reported second quarter earnings for fiscal year 2015 on august 14th 2014. The company reported actual earnings per share of $0.35 against the consensus Street estimate of $.029. This represents year over year decline of 28.57%. Autodesk posted revenue of $637.10million against estimates of $603.16million.Autodesk is currently valued at $12.97billion and closed the last trading session at $57.05. The stock has a 50-day moving average of $54.36 and a 200-day moving average of $52.58.Is this a Buying Opportunity?There are currently fifteen analysts that we track that cover the stock. Of those fifteen, ten have Buy rating and five have a hold rating. On a consensus basis this yields a score of 2.67 and a buy. The combined price objective of these covering analysts is $64.71, which represents a 16.27% upside difference to the last closing price.The most recent analyst activity consisted of Morgan Stanley. upgraded with neutral outperform stance on the company. Morgan Stanley has a price target of $65 to 70 which represents an upside of 25.76% from the last closing price. On the date of the report, the stock closed at $55.66.Another research firm weighing in recently was Cowen and Company who upgraded their market perform/outperform stance on the stock. On October 02nd 2014 Cowen and Company upgraded their price target on the stock $65 a 16.78% upside to the current price. On the day of the report, ADSK shares closed at $55.66.Company ProfileAutodesk, Inc.(NASDAQ:ADS.K) operates as a designed software and services company worldwide. It’s Platform Solutions and Emerging Business segment offers AutoCAD software, a computer-aided design application for professional design, drafting, detailing, and visualization; and AutoCAD LT, a professional drafting and detailing software. The company’s Architecture, Engineering and Construction segment offers Autodesk Building Design Suites that give customers the ability to manage various phases of design and construction; Autodesk Revit products, which provide model-based design and documentation systems; Autodesk Infrastructure Design Suites.

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