Is Autodesk Stock a Buy Now?
Autodesk's (NASDAQ: ADSK) stock price jumped 10% on May 27 after the software company posted its fiscal year 2023 first-quarter results (for the period that ended April 30). Its quarterly revenue rose 18% year over year to $1.17 billion, which beat analysts' estimates by $20 million. Its adjusted earnings increased 39% to $1.43 per share, which also surpassed the consensus forecast by $0.09.
Those growth rates are impressive, but should investors chase Autodesk's post-earnings rally?
Autodesk's software and services operations can be split into four categories: architecture, engineering, and construction (AEC); AutoCAD and AutoCAD LT; manufacturing (MFG); and media and entertainment (M&E).
Source Fool.com
