Autodesk’s (ADSK) latest financial results have been overshadowed by the appointment of a new chief financial officer (CFO) at the software company.
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Along with its earnings print for this year’s third quarter, Autodesk announced that it has named Janesh Moorjani as the company’s new CFO. She takes over the role on December 16. Since June of this year, Autodesk veteran Elizabeth Rafael has served as Autodesk’s interim chief financial officer.
The new CFO appointment comes after the maker of software for architecture and engineering firms said this past spring that it was investigating its own practices regarding free cash flow and adjusted operating margins. Autodesk has also delayed the filing of its 10-K annual report.
ADSK stock was down 9% in after hours trading. The company’s share price has risen 30% this year.
Strong Earnings
Autodesk did mange to report third-quarter financial results that beat Wall Street forecasts. The company announced earnings per share (EPS) of $2.17, which topped the consensus expectation of $2.12 a share. Revenue of $1.57 billion also beat analyst estimates of $1.56 billion.
A year ago, Autodesk posted earnings of $2.07 a share on revenue of $1.41 billion. In terms of forward guidance, Autodesk said it expects full-year 2025 earnings of $8.29 to $8.35 per share, which was up from a previous forecast of $8.18 to $8.31.
Is ADSK Stock a Buy?
The stock of Autodesk has a consensus Moderate Buy rating among 23 Wall Street analysts. That rating is based on 15 Buy and eight Hold recommendations issued in the last three months. There are no Sell ratings on the stock. The average ADSK price target of $324.50 implies 2.06% upside from current levels.
Read more analyst ratings on ADSK stock
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
