AUTODESK: ANOTHER EARNINGS DISAPPOINTMENT MIGHT BREAK THE TREND
Autodesk is a software company. It's stock rose 50% since last October. The market cap is currently 46B USD. Last year's revenue was only 2.578B USD, while the net income was a negative 80.8M USD. We were following this stock for a while and consider it overvalued. The time to go short might have arrived now. In the chart the earnings are indicated. Everytime Autodesk disappointed with the earnings and the stock dropped but recovered quite quickly.
Last earnings report on 26 Nov 2019 was 0.30 USD instead of the estimated 0.72 USD. The estimate for 27 Feb 2020 is 0.89 USD. Chances are high that Autodesk will miss the earnings estimate again. What might be different this time is the reaction. The chart, the MACD and the stochastic show that the stock hasn't dropped for months. If the earnings will disappoint again, the stock will probably drop further and for longer than after the last earnings.
Last earnings report on 26 Nov 2019 was 0.30 USD instead of the estimated 0.72 USD. The estimate for 27 Feb 2020 is 0.89 USD. Chances are high that Autodesk will miss the earnings estimate again. What might be different this time is the reaction. The chart, the MACD and the stochastic show that the stock hasn't dropped for months. If the earnings will disappoint again, the stock will probably drop further and for longer than after the last earnings.
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