Despite Covid-related headwinds which would have restricted enterprise spending on capex and project design, Autodesk (ADSK) showed incredible resilience, strong customer retention and continued to increase revenues and profit margins. The stock is well positioned to capitalize on post Covid-19 trends and provide continued growth for investors.
Autodesk describes their business as being the maker of software for “people who make things”. They provide 3D design software which targets customers in the architecture, engineering, construction media and manufacturing industries listing vehicles, skyscrapers, smartphones and films as just some of the products where their software can aid design teams.
In a period where spending on “making things” has been impacted by the pandemic, with the global construction industry showing a 3% decline and 78% percent of respondents to a recent National association of Manufacturing survey anticipating a financial impact from Covid-19, the Autodesk stock price has shown