Why Shares of Autodesk Soared in June

Shares of Autodesk (NASDAQ: ADSK) increased 13.7% in June, according to data from S&P Global Market Intelligence. The move comes after a slew of upgrades from Wall Street analysts after the company's investor day in early June.

For obvious reasons, the COVID-19 pandemic has created uncertainty around the end market demand environment for Autodesk. After all, if the economy is set for an extended slowdown, then construction, manufacturing, and engineering companies will start to shelve projects -- not good news for Autodesk's design software sales.

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Source Fool.com