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Autodesk (ADSK) Stock Pops on Q2 Beat, Barclays Hikes Price Target

NEW YORK (TheStreet) -- Shares of Autodesk (ADSK) were jumping 6.47% to $67.83 on heavy trading volume late-morning Friday as the San Rafael, CA-based software and services company posted positive fiscal 2017 second quarter results after yesterday's closing bell.

Consequently, Barclays increased its price target to $75 from $70 on the stock this morning, saying Autodesk's subscriber growth was impressive despite the tough quarter-over-quarter comparison.

The company added 109,000 new subscribers during the second quarter vs. Barclays' estimates of 92,000 new subscribers. The firm said it was happy to see a third of subscription growth coming from new...