Stock Forecast Based On a Predictive Algorithm | I Know First |AutoCAD Archives - Stock Forecast Based On a Predictive Algorithm

Autodesk Stock Forecast: ADSK Is A Buy Before Earnings

The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Autodesk will report its 3Q FY2020 earnings on November 26. I expect it to beat Wall Street’s EPS and revenue estimates.
I recommend ADSK as a buy before earnings gambit. This stock is now trading well below its 2019 high of $178.21. ADSK’s 6-month return is -13.63%.
If my bet that Autodesk will report better than expected 3Q FY2020 EPS and revenue numbers, ADSK might shoot up to $165 before December 31.
Autodesk’s rapid shift to subscription-based software marketing is paying off well. Its annual recurring revenue is now $3.07 billion. Recurring revenue now accounts for 96% Autodesk’s sales.