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Autodesk Stock Forecast: Prediction Missed, but Large Potential to Grow

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.

Summary:

Like Adobe before it, Autodesk’s shift to subscription-only software licensing/selling is turning out to be very beneficial.
Autodesk’s stock has rallied to a new 52-week high of $69.21 last month after it reported a big beat on estimated Q2 EPS and revenue.
The bullish sentiment over ADSK is clear evidence that many institutional and retail investors like that the company added 125,000 new subscribers in the second quarter.
Autodesk now has 2.82 million annual/monthly paying subscribers.
ADSK’s price is up more than 25% since my July 4 Buy recommendation. I reiterate my Buy rating for this stock because of its strong algorithmic forecasts.