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Autodesk Inc ADSK

Rating as of

Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Autodesk Posts Strong Q1 as Subscription Growth Persists Despite Slight Usage Dip; Maintaining FVE

Julie Bhusal Sharma Equity Analyst

Analyst Note

| Julie Bhusal Sharma |

Autodesk reported revenue and non-GAAP earnings in line with management’s outlook in its first-quarter results. The company continued to benefit from strength in subscription growth, which we think will lead to lasting benefits in upselling and operating leverage. While management’s outlook for fiscal 2021 certainly reflects a deceleration in growth, we are encouraged by Autodesk’s long-term growth prospects and relatively smooth weathering of coronavirus in its first quarter. We are confident that Autodesk will be able to endure the next several quarters with help from its healthy balance sheet and significant switching costs. As a result, we are maintaining our fair value estimate of $198 per share for this wide-moat stock. With the stock trading at $198 in after hours, this marks the stock returning to our fair value estimate after three months of market turmoil.

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Company Profile

Business Description

Founded in 1982, Autodesk is an application software company that serves industries in architecture, engineering, and construction; product design and manufacturing; and media and entertainment. Autodesk software enables design, modeling, and rendering needs of these industries. The company has over 4 million paid subscribers across 180 countries.

Contact
111 McInnis Parkway
San Rafael, CA, 94903
T +1 415 507-5000
Sector Technology
Industry Software - Application
Most Recent Earnings Apr 30, 2020
Fiscal Year End Jan 31, 2021
Stock Type Speculative Growth
Employees 10,100

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