Autodesk, Inc (NASDAQ: ADSK), an American multinational software corporation, has a market cap of nearly $44.209 Billion. According to its fundamental report, last year’s revenue of Autodesk, Inc amounted to $5.00 Billion. Most of the revenue around $2.28 Billion came from its highest performing source at the moment, Architecture, Engineering and Construction.
Meanwhile, the greatest contribution to the revenue figure was made by Europe, Middle East and Africa as last year it brought in $1.91 Billion.
Autodesk, Inc released its first quarter 2023 report on May 25. According to the reports, its Q1 2023 earnings are $1.55. However, the estimation was the same which accounts for a -0.18% surprise. The revenue for the same period amounts to $1.27 Billion, while the estimated figure was the same. Now, for Q2 2023, the estimated earnings are $1.72, and revenue is expected to reach $1.32 Billion.
ADSK Stock Price Analysis
According to Tradingview analysis, ADSK stock closed at the price of $206.85 on June 27, with a 3% price gain. The stock opened at the price of $201.76, noted high at $207.25 while low was $201.05. Notably last week, the stock dropped more than 1% but in the recent month, the price gain was almost 6%.
Moreover, in its year-to-date (YTD) price analysis, ADSK stock price soared more than 11%, which showed quite positive investor’s interest at Autodesk Inc.
As the above price chart shows, the pre-market price of ADSK stock is at $206.33 which shows little price decline. In yesterday’s trading session, bulls showed their dominance with quite good trading volume. This upside surge took the stock price to surpass its 200-day moving average. However, at the time of writing, the stock price is nearing its 20-day EMA.
It must be noted that in mid June, the stock took an upside ride and traded above the price range of $220.00. However, during its recent quarterly report, Q1 2023, the stock price experienced bear’s dominance which might be due to its negative quarterly reports.
The analysts have set their one year price target at $228.80, which is up nearly 10% from the recent closing price of ADSK stock. Their maximum estimate is at $265.00, while the minimum estimate is at $175.00.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/06/28/adsk-stock-price-showed-little-decline-in-its-pre-market-price/