Autodesk (ADSK) Adds Bridge Solution Under Construction Cloud

Autodesk ADSK recently added a new team collaboration solution under its Construction Cloud platform by launching Bridge. The Bridge collaboration solution is currently available for free to the company’s Construction Cloud customers.

The new collaboration capability will empower construction teams to share only relevant data with project stakeholders, irrespective of whether they are on the same team or building project within the Construction Cloud platform.

The Autodesk Construction Cloud platform brings together the most powerful portfolio of construction management software products that unite office and field teams, from design to planning and construction to operations stages, while minimizing risks, maximizing efficiency and increasing profits. The Autodesk Construction Cloud platform includes offerings like Autodesk BIM Collaborate, Autodesk Takeoff, Autodesk Build and Building Connected.

The latest addition of the Bridge collaboration solution under the Construction Cloud platform is in line with Autodesk’s strategy to offer end-to-end construction management solutions. With Bridge, teams will have better control over project data sets by enabling them to share select files, folders or data sheets without having to share all information.

According to Autodesk, “The new collaboration capabilities delivered by Bridge lessen the need for manual data transfer and management and provide confidence that everyone is working from the same information, minimizing rework and saving teams time and money that directly impacts their bottom lines.”

Autodesk, Inc. Price and Consensus

Autodesk, Inc. price-consensus-chart | Autodesk, Inc. Quote

Focus on Enhancing Construction Cloud Capabilities

Autodesk has been consistent in enhancing the capabilities of its Construction Cloud platform. In January 2022, ADSK completed the acquisition of California-based ProEst, which specializes in the development of cloud-based estimating software solutions for companies in the construction domain.

The company integrated the ProEst solution under its Construction Cloud platform. The integration of the ProEst solution will help construction teams handle all essential preconstruction and construction workflows on a single platform.

ProEst software solutions help businesses create estimates, execute digital takeoffs, handle bid-day processes and produce comprehensive reports and proposals. We believe Autodesk intends to solidify its portfolio of preconstruction solutions within the Autodesk Construction Cloud platform with the takeover of ProEst.

Autodesk’s acquisitions of Pype (2020), Assemble Systems (2018) and BuildingConnected (2018) and PlanGrid (2018) also bolstered its Construction Cloud platform.

Zacks Rank & Stocks to Consider

Currently, Autodesk carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology sector include Jabil JBL, Broadcom AVGO and Apple AAPL. While Jabil sports a Zacks Rank #1 (Strong Buy), Broadcom and Apple each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Jabil’s third-quarter fiscal 2022 earnings has been revised upward to $1.62 per share from $1.46 30 days ago. For fiscal 2022, earnings estimates have been revised upward by 67 cents to $7.25 per share in the past 30 days.

Jabil’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 13.5%. Shares of JBL have rallied 14.2% over the past year.

The Zacks Consensus Estimate for Broadcom’s second-quarter fiscal 2022 earnings has been revised upward by 10.2% to $8.64 per share over the past 30 days. For fiscal 2022, earnings estimates have moved upward by 7.1% to $35.49 per share over the past 30 days.

Broadcom’s earnings beat the Zacks Consensus Estimate in the preceding four quarters, the average surprise being 1.9%. Shares of AVGO have rallied 32.6% in the trailing 12 months.

The Zacks Consensus Estimate for Apple’s second-quarter fiscal 2022 earnings has been revised upward by seven cents to $1.43 per share over the past 90 days. For fiscal 2022, earnings estimates have moved upward by a penny to $6.16 per share in the past 30 days.

Apple’s earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while meeting the same on one occasion, the average surprise being 20.3%. AAPL stock has rallied 44.5% over the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.