Stock Alert: Autodesk Shares Hit 52-Week High

(RTTNews) - Shares of Autodesk Inc. (ADSK) reached a 52-week high of $282.46 today, and are currently trading at $277.02, up $18.05 or 6.97% in the regular trading session Wednesday.

The company reported Q3 GAAP net income of $132.2 million or $0.59 per share compared to $66.7 million or $0.30 per share last year. On a non-GAAP basis, net income rose to $231.5 million or $1.04 per share from $173.4 million or $0.78 per share in the prior year period.

Revenue for the quarter increased 13.0% to $952.4 million from $842.7 million generated a year ago.

On average, 17 analysts polled by Thomson Reuters expected earnings of $0.96 per share on revenue of $942.24 million for the quarter. Analysts' estimate typically exclude certain special items.

For the fourth quarter, the company projects GAAP earnings in the range of $0.53 - $0.59 per share, and non-GAAP earnings of $1.04 - $1.10 per share on revenue of $999 million - $1.01 billion. Sixteen Wall Street analysts have a consensus earnings estimate of $1.06 per share on revenue of $1 billion for the quarter.

The company sees fiscal 2021 GAAP earnings in the range of $1.86 - $1.92 per share, and non-GAAP earnings of $3.91 - $3.97 per share on revenue of $3.750 billion - $3.765 billion. Analysts look for earnings of $3.83 per share and revenue of $3.75 billion for fiscal 2021.