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.
William Flanagan focuses on breaking technology news stories and ensuring we offer timely reporting on some of the latest stories released through worldwide. He has previously spent over 5 years as a trader in us stock market and is now semi-retired. He works on a full time basis for analystsbuzz.com specializing in quicker technology news writing with a short term view on investment opportunities and trends. Williamjournalism graduate with keen interest in covering Technology news – specifically startups. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years.
Address: 60271 378th Avenue, Aberdeen, SD 57401 USA