Autodesk, Inc. (NASDAQ:ADSK)’s shares moving to surge heavily in prices to touch newer peaks


Dallas, Texas 08/26/2013 (Financialstrend) – Shares of Autodesk, Inc. (NASDAQ:ADSK) had recently been moving to surge heavily in prices to touch newer peaks with the announcement on results for the second quarter of fiscal year 2014. The company had reported adjusted earnings per share for the quarter at $0.45, compared to the consensus estimate at $0.42 per share. Further, the company expects to produce an adjusted EPS at $0.36 to $0.40 per share for the next quarter, while the estimates on the analysts are at $0.50 per share. Such strong earnings posted by the company for the second quarter performance had proved to surge the investor confidence on the stock, thereby moving its prices to new 52 week high price level on Friday.

Further, the shares of Autodesk, Inc. (NASDAQ:ADSK) had also been upgraded by analysts at B. Riley & Co. from the earlier neutral rating to the Buy rating with the announcement on these earnings reports. The stock thus appears to possess great value to the investors in the short term and it would thereby prove efficient to take a strong position on this stock in the near future to earn effective short term returns.

Shares of Autodesk, Inc. (NASDAQ:ADSK) closed on Friday at $38.91 per share, which was observed to be an upward movement in prices by 7.69%. It was further observed that the stock’s intraday price movements were fluctuating in the range of $38.75 to $41.72 per share. On Friday, the stock had attracted around 16.68 million trades in its shares, while for the past 30 days of trading in the market the company had reported average trading volume at 2.83 million shares per day. The stock has a 52 week low of $27.70 and 52 week high of $41.72 per share.