Autodesk (ADSK, $163.02 ) slips against Q1 earnings estimates
Autodesk missed earnings and revenue estimates for its fiscal first-quarter.
The software maker reported earnings of 45 cents per share for the quarter, falling behind analysts’ expectations of 47 cents per share (based on Refinitiv data).
Revenue of $735.5 million came in lower than estimates of $740 million (based on Refinitiv poll). However, revenue was +31% higher from the year-ago quarter. Autodesk’s revenue from subscription surged +67% to $595.8 million, slightly below the $599.6 million expectation from analysts polled by FactSet.
Looking ahead, the company predicts adjusted earnings per share of 59 cents to 63 cents for the second quarter, compared to 62 cents expected by analysts (based on Refinitiv poll). It projects revenue of $782 million to $792 million for the quarter, while analysts’ forecast $788.5 million.
For the full fiscal year, Autodesk expects adjusted earnings of $2.71 to $2.90 per share, on $3.25 billion to $3.30 billion in revenue. The Refinitiv consensus expected $2.83 in earnings per share on $3.29 billion in revenue.
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Notable companies
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), CrowdStrike Holdings (NASDAQ:CRWD).
Industry description
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
Market Cap
The average market capitalization across the Packaged Software Industry is 10.66B. The market cap for tickers in the group ranges from 291 to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is BLGI at 291.
High and low price notable news
The average weekly price growth across all stocks in the Packaged Software Industry was 2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 4%. CMAX experienced the highest price growth at 220%, while NXTT experienced the biggest fall at -64%.
Volume
The average weekly volume growth across all stocks in the Packaged Software Industry was -6%. For the same stocks of the Industry, the average monthly volume growth was 10% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 58
SMR Rating: 82
Profit Risk Rating: 89
Seasonality Score: 1 (-100 ... +100)