Why Autodesk Stock Gained 23% in November
November was a good month for the stock market, but Autodesk (NASDAQ: ADSK) investors fared even better by booking a 23% increase compared with a 3.4% boost in the S&P 500, according to S&P Global Market Intelligence. The rally added to year-to-date gains for the software company, with shares up 35% so far in 2019.
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The stock rose in anticipation of a positive earnings report from the software-as-a-service specialist, and investors weren't disappointed by the actual results. Autodesk said late in the month that sales jumped 28% thanks to robust demand from customers in areas like architecture and construction. CEO Andrew Anagnost and his team also revealed a 55% increase in software billings for projects to be delivered over the next few quarters.
Source Fool.com
