Technology

Notable News to Watch: Autodesk (NASDAQ:ADSK)

Autodesk (NASDAQ:ADSK) stock observed trading -16.06% off 52-week high price. On the other end, the stock has been noted 27.60% away from low price over the last 52-weeks. The stock disclosed a move of -6.44% away from 50 day moving average and -2.73% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.39% off 20-day moving average. It has market cap of $33268.51M.

 On Aug. 27, 2019, Autodesk (NASDAQ:ADSK) notified financial results for the second quarter of fiscal 2020.

All growth rates are compared to the second quarter of fiscal 2019 unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.

  • Total ARR increased 31 percent to $3.07 billion;
  • Total billings increased 48 percent to $893 million;
  • Total revenue increased 30 percent to $797 million; recurring revenue represents 96 percent of total;
  • GAAP operating margin was 9 percent, up 13 percentage points;
  • Non-GAAP operating margin was 23 percent, up 14 percentage points;
  • GAAP diluted EPS was $0.18; Non-GAAP diluted EPS was $0.65;
  • Cash flow from operating activities was $219 million; free cash flow was $205 million.

We closed a solid first half of the year with a very strong second quarter as revenue, billings, earnings, and free cash flow came in ahead of expectations, said Andrew Anagnost, Autodesk president and CEO. ARR grew to a record $3.1 billion, driven by all parts of the business. Construction demonstrated continued strength with wins across all parts of the portfolio, and Fusion 360 – our design-to-manufacturing platform – continued to build momentum. We also made further strides in capturing opportunities within our non-paying user base. In an environment of increasing uncertainty, we believe we are well-positioned to achieve our FY23 goals.

Our strong performance during the second quarter helped us achieve two milestones, said Scott Herren, Autodesk CFO. First, we drove our largest quarterly non-GAAP net income to date, followed by a record setting last twelve months free cash flow of $731 million. While we continue to execute well and are not materially impacted by current trade tensions and macro uncertainty, we are taking a prudent stance to our second half fiscal 2020 outlook. Despite these near-term headwinds, our recurring revenue model is much more resilient than in prior cycles.

 The USA based company Autodesk moved with change of 1.63% to $150.21 with the total traded volume of 4062055 shares in recent session versus to an average volume of 1846.11K. The stock was observed in the 5 days activity at 2.49%. The one month performance of stock was -7.72%. ADSK’s shares are at -7.00% for the quarter and driving a -4.45% return over the course of the past year and is now at 16.79% since this point in 2018.  Right now the stock beta is 1.83. The average volatility for the week and month was at 2.09% and 2.69% respectively. There are 221.48M shares outstanding and 218.71M shares are floated in market.

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