To invest simply and easily, users need a low-fee broker with a track record of reliability. In addition, the company’s earnings growth expectations are also a catalyst for growth investors look forward to. Therefore, Monday’s pullback presents an exciting opportunity to buy the stock ahead of the rebound. Bottom line: Why buy ADSK shares now?Īlthough Autodesk’s purchase of Altium may be off now, there is still a chance that the company will continue looking for potential strategic acquisitions in the near future. The key support levels are $276.18 and $265.23. Investors can target profits at approximately $299.17 or higher at $309.84. Therefore, ADSK stock seems to be poised for an imminent rebound following Monday’s pullback. It also trades closer to the support trendline of the triangle formation. Technically, Autodesk’s share price appears to have pulled back closer to the 100-day moving average. Source – TradingView Technical overview: Autodesk price prediction for Q3 2021 Therefore, although the ADSK stock price suffered after the company ended Altium discussions, the pullback could be a perfect opportunity to invest in ADSK shares now. The decision leaves room for Autodesk to assess other more lucrative acquisitions in the near future. The company’s decision to pull out of the Altium acquisition negotiations could prove crucial in its growth story. Therefore, the ADSK stock looks compelling to growth investors willing to overlook short-term bottlenecks. Analysts expect Autodesk earnings to grow by a whopping 440% this year and at a compound annual growth rate of 35.58% for the next five years. However, when we look at earnings growth expectations, there is a lot of excitement about the ADSK stock. Should you invest in Autodesk in Q3 2021?Īutodesk shares trade at a relatively steep P/E ratio of 50.22, making the stock less attractive to value investors.
We are not commenting on matters with Altium but can confirm that acquisition discussions have ceased at this time.Īltium shares slumped more than 14% after the news about Autodesk walking away from the deal broke. Sign-up for the Invezz newsletter, today.
Altium rejected Autodesk’s improved offer of A$5.25 billion or A$40.00 per share from the initial bid of A$5.05 or A$38.50 per share.Īccording to Reuters, an Autodesk spokesperson said:Īre you looking for fast-news, hot-tips and market analysis? ( NASDAQ:ADSK) stock price pulled back 2% on Monday morning after the company ended discussions to buy Australian software company Altium Limited ( ASX:ALU).
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