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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.