This tech stock walloped analysts’ estimates, posting EPS of $0.05 vs. the forecasted loss of $0.13 per share. That prompted 19 analysts to raise their 2016 estimates for the company and 12 to increase 2017 estimates.
Autodesk, Inc. (ADSK)
From Schaeffer’s Investment Research
Fresh off an upbeat earnings report, Autodesk, Inc. (ADSK) shares jumped 4.4% in pre-market trading. Giving the stock an additional lift is a round of price-target hikes from the like of Barclays, Goldman Sachs, and at least six other brokerage firms.
As a result, bearish options traders could be on pins and needles. Autodesk, Inc. has racked up an ISE/CBOE/PHLX put/call volume ratio of 1.37 over the past 10 days, registering in the top quartile of its 12-month range.
Plus, the stock has come roaring back from its early summer sell-off, rallying 28% from its June bottom at $49.82 to hover at $63.70.
Alex Eppstein, Schaeffer’s Investment Research, www.SchaeffersResearch.com, 800-327- 8833, August 26, 2016