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Autodesk (ADSK) Gains But Lags Market: What You Should Know
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Autodesk (ADSK - Free Report) closed the most recent trading day at $204.77, moving +0.41% from the previous trading session. This move lagged the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the design software company had lost 0.46% in the past month. In that same time, the Computer and Technology sector gained 3.3%, while the S&P 500 gained 3.69%.
Autodesk will be looking to display strength as it nears its next earnings release. On that day, Autodesk is projected to report earnings of $1.33 per share, which would represent year-over-year growth of 29.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 16.38% from the year-ago period.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $6.73 per share and revenue of $5.06 billion. These results would represent year-over-year changes of +32.74% and +15.46%, respectively.
Any recent changes to analyst estimates for Autodesk should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.7% lower. Autodesk currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Autodesk is holding a Forward P/E ratio of 30.32. Its industry sports an average Forward P/E of 30.38, so we one might conclude that Autodesk is trading at a discount comparatively.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Autodesk (ADSK) Gains But Lags Market: What You Should Know
Autodesk (ADSK - Free Report) closed the most recent trading day at $204.77, moving +0.41% from the previous trading session. This move lagged the S&P 500's daily gain of 0.43%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Coming into today, shares of the design software company had lost 0.46% in the past month. In that same time, the Computer and Technology sector gained 3.3%, while the S&P 500 gained 3.69%.
Autodesk will be looking to display strength as it nears its next earnings release. On that day, Autodesk is projected to report earnings of $1.33 per share, which would represent year-over-year growth of 29.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 16.38% from the year-ago period.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $6.73 per share and revenue of $5.06 billion. These results would represent year-over-year changes of +32.74% and +15.46%, respectively.
Any recent changes to analyst estimates for Autodesk should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.7% lower. Autodesk currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Autodesk is holding a Forward P/E ratio of 30.32. Its industry sports an average Forward P/E of 30.38, so we one might conclude that Autodesk is trading at a discount comparatively.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.