Take Autodesk (NASDAQ: ADSK), for example. As another boost for Autodesk, its stock is undervalued in my opinion, and management's latest action affirms this assessment. Autodesk recently reported results for the third quarter of its fiscal 2023 (ended Oct. 31), and with it came a huge announcement.
Among them are Adobe (NASDAQ: ADBE), Autodesk (NASDAQ: ADSK), and Procore Technologies (NYSE: PCOR). Adobe's creative tools are used by numerous businesses globally, and students are educated at all levels on how to use them. While it was an expensive price tag for the business, the real value came from Figma's collaborative technology, which was far superior to Adobe's.
Autodesk's (NASDAQ: ADSK) stock tumbled 6% on Nov. 23 in response to its latest earnings report. Its adjusted earnings increased 27% to $1.70 per share and also met the consensus forecast. For the fourth quarter, Autodesk expects its revenue to rise 8% to 9% year over year and for its adjusted EPS to grow 18% to 22%.