That compared with the company’s earlier forecast of $0.95 per share to $1.10 per share and revenue to roughly increase to between $2.56bn and $2.61bn.
Autodesk has gapped open lower Thursday morning and is now down 1.50 at $48.50. Market capitalization for NASDAQ:ADSK is $11,132,521,447.00 Dollars.
Autodesk (NASDAQ:ADSK)’s stock had its “buy” rating reissued by investment analysts at Barclays in a note issued to investors on Saturday, MarketBeat.Com reports.
ADSK has been the subject of several other research reports.
“For the past two years we’ve been preparing for this transition and we’re now ready to accelerate the process”, chief executive officer Carl Bass said in the statement. EPS are expected to come in at $0.17, a decline rate of 51.43% from $0.35 per share a year earlier. The 50-day moving average is $52.7 and the 200 day moving average is recorded at $56.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The 12-month consensus target price for the stock is $68.88, which reflects an upside potential of 44.71% over the current price. William Blair assumed coverage on shares of Autodesk in a report on Tuesday, August 4th.
The company reported a loss of $235.5 million or $1.04 on a per share basis, compared to $31.3 million or $0.13 per share obtained in the same quarter a year ago. Analysts expected earnings of $1.04 per share on revenue of $2.59 billion. The disclosure for this sale can be found here. Credit Suisse restated an “outperform” rating and set a $80.00 target price (up from $75.00) on shares of Autodesk in a report on Tuesday, July 7th.
Autodesk projects FY16 adjusted earnings of $0.60 to $0.70 per share on sales of $2.465 billion to $2.505 billion. They set an “outperform” rating and a $53.30 price target for the company.
Due to Autodesk’s pre-tax U.S. GAAP cumulative loss over the last three years, the company evaluated its deferred tax assets and determined that a valuation allowance was required.
Autodesk also plans to develop a new IoT solution based on the SeeControl technology that will allow companies to gain real world insights of how their products perform, enabling customers to explore innovative new service models. The Business serves customers in the architecture, engineering and building; manufacturing, and digital media, consumer and entertainment sectors.
Revenue from the Architecture, Engineering and Construction business segment was $233 million, an increase of 7 percent compared to the second quarter past year. The MFG, AEC and PSEB segments provide a range of services, including training, support and consulting. The M&E segment offers software products to creative professionals, post-production facilities and broadcasters for a variety of applications, including feature films, television programs, commercials, music and corporate videos, interactive game production, Web design and interactive Web streaming.