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Autodesk Stock Forecast: Why We Remain Bullish On Autodesk

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.

We reiterate the March 2019 buy recommendation we gave to ADSK. This software company can endure this pandemic better than others.
Autodesk will emerge stronger after this COVID-19 pandemic is over. It is adapting its software products to align with the work-from-home trend.
The AI-infused Fusion 360 from Autodesk is the best work-at-home software product for architects, engineers, and CAD artists.
The global construction business will outgrow any pandemic. Governments and banks are willing to extend emergency loans to hard-up construction-related firms.

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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.

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The article was written by Kun Qiu, a Financial Analyst at I Know First.

Autodesk’s strategic shift from traditional software provider to innovation company was proven effective since the company’s revenue was steadily increasing.
Autodesk failed to reach the consensus EPS anticipation, but the non-GAAP earnings of fiscal 2020 first quarter per share $0.45 is far beyond $0.06 for the same quarter last year.
Autodesk’s stock price still has a large potential to grow if Autodesk could maintain its leading role in CAD industry and apply its core strategy successfully.

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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’s stock already has a year-to-date return of +24.04%. I still reiterate a buy rating for this 3D/CAD/CAM software leader.
I argued six months ago that ADSK can shoot up to $200. This price target could turn out to be true within the next six months.
My fearless forecast is that Autodesk will soon return to consistent profitability after most of its customers switch to the subscription-only model.
More than 95% of ADSK shares are owned by institutional investors. Small retail investors can profit from imitating the stock picking bets of institutional investors.
The 30-day technical indicators and moving averages points to ADSK as a buy. I Know First’s AI stock picking algorithm also has a very bullish one-year forecast for ADSK.

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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.

The 15.3% one-day in Autodesk’s surge post-earnings validated my May 2018 call for investors to raise their bets on this company.
Like Adobe before it, Autodesk is eventually going to reap stronger cash flow and profitability from going full-bore on software subscription.
Autodesk only went all-out on software subscription last June 2017. As of July 31, 2018, Autodesk now touts 2.86 million software subscribers.
All or most of Autodesk’s customers will likely switch to subscription. Subscription will turn out to be more cost effective than perpetual license maintenance contracts.
Autodesk’s stock has a very bullish 12-month algorithmic forecast from I Know First. I Know First’s AI has a great history of correctly predicting one-year performance of ADSK.

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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.

Summary:

Autodesk’s stock has risen more than 107% since my previous go-long recommendation for it last July 4, 2016.
I am again reiterating that ADSK is still worth buying right now.
Autodesk’s successful transition of its software products to the Software-as-a-Service business model means it will continue to dominate CAD and 3D design software.
Like Adobe’s experience, monthly/annual subscription-based software distribution is a great way to minimize the impact of software piracy.
My buy rating for ADSK is strongly supported by the algorithmic forecasts of I Know First.