Predictably Boring Results From Autodesk
Jun 12, 2024
Autodesk, the leader in 3D CAD modeling software, delivered its typical "predictably boring" quarter for Q1, with revenue up about 12%. Margins looked good at a glance, but free cash generation continues to trend down. The 18.7% margin in the trailing 12 months lags far behind the company's traditional 30%+ figure. The stock still looks undervalued at present, but don't expect major returns here - this is a "slow, steady, and reliable" play. I'm lowering the fair value from $284 to $269.
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Watch List
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| NTNX | 33.26% |
| CRWD | 67.38% |
| SE | 32.25% |
| SNOW | 12.13% |
| APPF | 6.73% |
| PINS | -21.37% |
vs. Fair Value Estimates
Buy List
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vs. Fair Value Estimates
Hold List
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| V | -3.09% |
| ADSK | -0.07% |
| NOW | -0.03% |
| FTNT | -2.41% |
| TEAM | -2.35% |
vs. Fair Value Estimates