Autodesk Q1 Revenue Surges 19.4%, Beats Billings; Morgan Stanley Cuts PT to $315
ADSK is trading near its 52-week low of $214.1 (12% above the low).
Summary
Autodesk reported strong first-quarter revenue of $1.96 billion, marking a 19.4% year-over-year increase, and exceeded billings estimates. The company also provided next-quarter EPS guidance, highlighting a robust performance. While Morgan Stanley subsequently lowered its price target to $315 from $350, the strong operational results are a significant positive for the company's outlook.
At the time of this announcement, ADSK was trading at $239.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $50.3B. The 52-week trading range was $214.10 to $329.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.