Shares of AutoCAD developer Autodesk (NASDAQ:ADSK) jumped in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2024. Earnings per share came in at $1.91, which beat analysts’ consensus estimate of $1.73 per share. Sales increased by 8.9% year-over-year, with revenue hitting $1.35 billion. This beat analysts’ expectations by $30 million.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Looking forward, management now expects revenue and adjusted earnings per share for Q3 2024 to be in the ranges of $1.38 billion to $1.395 billion and $1.97 to $2.03, respectively. For reference, analysts were expecting $1.381 billion in revenue along with an adjusted EPS of $1.92.
What is ADSK Stock’s Price Target?
Overall, Wall Street has a consensus price target of $233 on ADSK stock, implying 14% upside potential, as indicated by the graphic above.