Shares of Autodesk (NASDAQ: ADSK) plunged in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $1.70, which was in line with analysts’ consensus estimate. Sales increased by 13.3% year-over-year, with revenue hitting $1.28 billion. This was also in line with expectations.
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Looking forward, management now expects revenue and adjusted earnings per share for Q4 2023 to be in the ranges of $1.303 billion to $1.318 billion and $1.77 to $1.83, respectively.
For reference, analysts were expecting $1.33 billion in revenue along with an adjusted EPS of $1.83.
Is ADSK Stock a Buy?
ADSK stock has a Moderate Buy consensus rating based on 10 Buys, three Holds, and two Sells assigned in the past three months. The average ADSK stock price target of $248.60 implies 19% upside potential.
