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.
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.
