#1 - Autodesk (NASDAQ:ADSK)
Autodesk (NASDAQ: ADSK) - Our first stock is Autodesk. This stock is up an impressive 38% since the start of 2019. Software-as-a-Service (SaaS) is becoming a vital part of the new economy. In late December, ADSK completed an acquisition of PlanGrid, a construction productivity software provider. This has helped propel the stock as investors and analysts recognize how PlanGrid will complement Autodesk’s construction portfolio in helping real estate owners and contractors manage the bid process in the preconstruction phase. Autodesk is also showing a strong ability to add new subscribers to their architectural and engineering software that includes a large collection of 3D modeling and computer-aided drafting (CAD) platforms. And the company is also doing a good job of converting current customers to move from a maintenance plan to a subscription plan. All this means that revenue is surging and investors are noticing. Autodesk had a strong fourth quarter of 2018 that was largely shrugged off by investors (the stock actually went down 11% in December). However, since the beginning of the year, the stock has been surging forward, and with revenue and GAAP earnings per share (EPS) projected to increase 27% year-over-year by the middle of 2019, the gains of the past six months look to be anything but a fluke.
About Autodesk
Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.
Read More - Current Price
- $315.22
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $302.38 (4.1% Downside)
