These Analysts Revise Their Forecasts On Autodesk After Q2 Results

Autodesk ADSK reported better-than-expected second-quarter financial results and issued FY24 EPS guidance above estimates.

The company reported quarterly earnings of $1.91 per share which beat the analyst consensus estimate of $1.72. The company reported quarterly sales of $1.34 billion which beat the analyst consensus estimate of $1.32 billion.

Full-year earnings per share is estimated to be in a range between $7.30 and $7.49, versus the $7.28 estimate. Revenue is anticipated to be between $5.405 billion and $5.455 billion, versus the $5.41 billion estimate.

Autodesk shares gained 4.5% to trade at $213.58 on Thursday.

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

• Keybanc raised the price target on Autodesk from $244 to $255. Keybanc analyst Jason Celino maintained an Overweight rating.
• Barclays boosted the price target on Autodesk from $225 to $233. Barclays analyst Saket Kalia maintained an Overweight rating.
• Rosenblatt increased the price target on Autodesk from $235 to $253. Rosenblatt analyst Blair Abernethy maintained a Buy rating.
• Deutsche Bank increased the price target on Autodesk from $225 to $230. Deutsche Bank analyst Johannes Schaller maintained a Hold rating.
• BMO Capital boosted the price target on Autodesk from $224 to $232. BMO Capital analyst Daniel Jester maintained a Market Perform rating.
• Berenberg cut the price target on Autodesk from $230 to $228. Berenberg analyst Nay Soe Naing maintained a Buy rating.

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