NEW YORK (TheStreet) -- Autodesk (ADSK) shares are up 3.6% to $60.50 in after-hours trading on Thursday following the release of the design software and service company's third quarter earnings results.
The company reported third quarter earnings of 25 cents per diluted share, short of the 39 cents per diluted share the company reported last year, but ahead of analysts' 22 cents per diluted share guidance for the quarter.
The company also reported an 11% rise in revenue, which was driven by higher than expected sales of its design software, to $618 million, ahead of the $$601.88 million that analysts forecast the company to generate.
TheStreet Ratings team rates AUTODESK INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AUTODESK INC (ADSK) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: ADSK Ratings Report
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