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.
Momentum Indicator for ADSK turns positive, indicating new upward trend
ADSK saw its Momentum Indicator move above the 0 level on June 05, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 95 similar instances where the indicator turned positive. In of the 95 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for ADSK just turned positive on May 01, 2023. Looking at past instances where ADSK's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
ADSK moved above its 50-day moving average on May 31, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for ADSK crossed bullishly above the 50-day moving average on May 22, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ADSK advanced for three days, in of 317 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 291 cases where ADSK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
ADSK broke above its upper Bollinger Band on June 05, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. ADSK’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 89, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (49.751) is normal, around the industry mean (31.480). P/E Ratio (54.054) is within average values for comparable stocks, (167.650). Projected Growth (PEG Ratio) (1.202) is also within normal values, averaging (4.158). Dividend Yield (0.000) settles around the average of (0.068) among similar stocks. P/S Ratio (8.873) is also within normal values, averaging (75.604).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a developer of multimedia software products
Industry PackagedSoftware
ADSK and
Correlation & Price change
A.I.dvisor indicates that over the last year, ADSK has been closely correlated with ANSS. These tickers have moved in lockstep 76% of the time. This A.I.-generated data suggests there is a high statistical probability that if ADSK jumps, then ANSS could also see price increases.
| Ticker / NAME | Correlation To ADSK | 1D Price Change % | ||
|---|---|---|---|---|
| ADSK | 100% | +2.05% | ||
| ANSS - ADSK | 76% Closely correlated | +0.31% | ||
| BSY - ADSK | 76% Closely correlated | +0.62% | ||
| CDAY - ADSK | 76% Closely correlated | +2.03% | ||
| PAYC - ADSK | 73% Closely correlated | +4.30% | ||
| TYL - ADSK | 73% Closely correlated | +0.13% | ||
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