Shares Of AutoDesk Surge On Heels Of Q1 FY2015 Solid Earnings

Shares of Autodesk ADSK opened Friday at $50.16, jumping nearly five percent above Thursday's closing price following better-than-expected results for the first quarter of fiscal year 2015.

Autodesk CFO, Mark Hawkins commented, "Our better than expected results, coupled with our optimistic view of the current macroeconomic environment, led us to raise our business outlook for billings and revenue for fiscal year 2015."

Based on Autodesk's first quarter, Canaccord is calling the company a quality growth-for-a-reasonable-price name. Canaccord currently has Autodesk rated as a Buy with a $60 price target.

At last check, shares of Autodesk were trading up over seven percent at $51.20.