Why Now Is a Perfect Time to Buy the Dip on This Software Giant
It's the tail end of fourth-quarter earnings season, with many software companies set to report their financial results over the next few weeks. Last week, it was Autodesk's (NASDAQ: ADSK) turn to share the spotlight. Investors apparently didn't like what they saw, sending shares down over 10% the day following the report, likely due to surprisingly weak free-cash-flow guidance for the upcoming fiscal year.
But I think these sellers are missing the forest for the trees when analyzing Autodesk, making now the perfect time to buy the dip on this software leader.
Autodesk is a leader in providing design and workflow tools for the architecture, engineering, construction, and media industries. It has dozens of software products, almost all of which it has switched to a recurring subscription model over the last 10 years. This has made its business model much more predictable, driving durable and steady revenue growth year after year.
Source Fool.com
