Autodesk, Inc. (ADSK)
- Benzinga
Autodesk Is Firing On All Cylinders, But Its Mastermind Is Joining Cisco
Last week, we saw Dell Technologies Inc (NYSE: DELL), VMware, Inc.'s (NYSE: VMW), and Best Buy Co Inc's (NYSE: BBY) top estimates yet their shares slipped despite earnings beats. But it is the engineering software expert who saw its stock reach new all-time highs on Wednesday after a strong third-quarter earnings report. Autodesk, Inc. (NASDAQ: ADSK) crushed Wall Street's expectations across the board while also raising its full-year guidance targets.Autodesk Delivers Q3 BeatDuring the fiscal third quarter, Autodesk generated a revenue of $952 million that rose by 13.02% YoY, topping the estimate of $942 million. Earnings per share also managed to beat the estimate of $0.96 as they amounted to $1.04, marking a YoY rise of 33.33%.As for other figures, Autodesk's GAAP operating margin landed at 18%. This is the highest reading in more than a decade, completing a dramatic rebound from negative operating margins in 2016 and 2017. Additionally, free cash flows rose 29% YoY to $340 million. Its architecture, engineering and construction segment was its fastest growing with revenue rising 17% YoY to $419.4 million. Moreover, Autodesk completed its acquisition of Norway-based Spacemaker that provides cloud-based design tools for architects, urban planners and real estate developers.It's official: Autodesk has successfully completed a strategic transformation that replaced permanent software licenses with recurring subscription fees for its cloud-based solutions and services. The shift was painful, but it should result in generous dividends over the long haul.These strong results reflect the strength of its subscription business model as the company managed to thrive amid the lurking coronavirus crisis. By enabling the digital transformation that their customers are undergoing, Autodesk became their strategic partner. The company also revealed it signed a nine-digit deal in the quarter.As for the full-year revenue outlook, Autodesk lifted the midpoint of its guidance now being in the range from $3.74 billion to $3.77 billion.A Testament To Its Success When the mighty Cisco Systems, Inc. (NASDAQ: CSCO) grabs one of the chief architects of an audacious strategy shift, it's a solid testament to a job well done. After successfully transforming Autodesk's business model to a Software-as-a-Service (SaaS) revenue, its long-time CFO R. Scott Herren is moving on to join the crew of the networking equipment giant.Losing a quality leader is never a good thing but if it has to happen, now is a good time. Autodesk is firing on all cylinders and is entering the next chapter from a position of strength, strengthened by record-high revenues, earnings and all-time highs share prices.This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases - If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors - IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.comThe post Autodesk Is Firing on All Cylinders But Its Mastermind Is Joining Cisco appeared first on IAM Newswire.Photo by Shahadat Rahman on UnsplashSee more from Benzinga * Click here for options trades from Benzinga * The COVID-19 Vaccine Front Runner Updates * Nikola Bites The Dust, Hyllion Might Follow Suit(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Insider Monkey
Is Autodesk (ADSK) A Good Stock To Buy Now?
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
- Benzinga
Wall Street Analysts See These 4 Stocks As Winners Moving Into December
The advancements with COVID-19 vaccines of Pfizer Inc. (NYSE: PFE), Moderna Inc. (NASDAQ: MRNA), and AstraZeneca Inc. (NASDAQ: AZN), along with a resurgence of stock market indices like the Dow Jones Industrial Average and S&P 500, hints at a relatively stable outlook for the next year compared to 2020.Top Wall Street analysts, based on TipRanks ratings, see these four stocks as winning plays as markets brace for the last month of what has been a turbulent year, as first reported by CNBC.Repay Holdings Corp (NASDAQ: RPAY): Last Week, Northland Capital analyst Micheal Grondahl recommended the Atlanta-headquartered payment processing company as a Buy with a price target of $28, a 16.67% upside potential at the time.CNBC cited Grondahl's comments that the company's continued expansion into new key verticals could play an integral role in driving strong financial results -- the auto loan business for used cars as well as the mortgages and refinancing segment backed by the recently-acquired subsidiary Ventanex, for instance.According to TipRanks statistics, Grondahl's calls on Repay have returned profits eight out of 12 times.After a 0.44% dip during Friday's trading hours, RPAY sank 9.17% in the extended trading hours at $21.80.Autodesk Inc (NASDAQ: ADSK): Based on the positive earnings release for the September quarter, Oppenheimer analyst Koji Ikeda recommends Autodesk as a Buy. Ikeda has set a $300 price target with an 11% upside potential on the stock."We believe Autodesk is well-positioned during and post-pandemic to disrupt the future digitization opportunity in the construction and manufacturing industries that should enable the business to achieve its FY2023 financial targets," the Oppenheimer analyst said, as reported by CNBC. According to TipRanks, Ikeda has an over 93% success rate based on 110 ratings, and the calls on Autodesk stock returned profits twelve out of thirteen times.ADSK shares were last seen quoting $273.90, 0.40% higher, at the end of Friday's extended trading session.Anaplan Inc (NYSE: PLAN) With a Buy recommendation and a 21% upside potential, Needham & Company's Scott Berg revised the price target for the cloud-based business planning software company to $85 last week. "[Anaplan] was historically a fairly heavy in-person sale, thus a return to travel/in-person meetings could significantly benefit the company," Berg commented, according to CNBC. Berg added that ongoing partner investments could revive sales once the lockdown measures are scrapped.During Friday after-hours, PLAN stock was seen quoting 1.66% higher at $69.95 per share.Karyopharm Therapeutics Inc (NASDAQ: KPTI) With last week's Buy recommendation for Karyopharm, H.C. Wainwright analyst Edward White set a price target of $41 with a 166.41% upside potential.White relied on Karyopharm's Phase 3 SIENDO study of Xpovio for treating patients with endometrial cancer proceeding as per schedule. Topline estimates of the trials are expected sometime in the second half of next year.White believes that Xpovio sales from dedifferentiated liposarcoma are projected at close to $26 million in 2026, from the estimated $3 million in 2022, CNBC reported.See Also: Wall Street Analysts Say These 5 Stocks Are A Buy As The World Prepares For The Post-COVID-19 EraLatest Ratings for RPAY DateFirmActionFromTo Oct 2020Morgan StanleyInitiates Coverage OnEqual-Weight Sep 2020BarclaysInitiates Coverage OnOverweight Jun 2020Credit SuisseMaintainsOutperform View More Analyst Ratings for RPAY View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Airbnb, DoorDash Reportedly Up IPO Valuation Target By B Each * China Tech Companies To Remain 'Very Much A Growth Play' Even Post-COVID-19, Says Credit Suisse(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
