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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 $190.98, moving +1.61% from the previous trading session. This change lagged the S&P 500's 1.97% gain on the day. At the same time, the Dow added 1.88%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the design software company had lost 7.32% over the past month, outpacing the Computer and Technology sector's loss of 11.71% and the S&P 500's loss of 9.93% in that time.
Wall Street will be looking for positivity from Autodesk as it approaches its next earnings report date. On that day, Autodesk is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 27.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.28 billion, up 13.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.60 per share and revenue of $5.01 billion, which would represent changes of +30.18% and +14.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.41% lower. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 28.5. For comparison, its industry has an average Forward P/E of 23.44, which means Autodesk is trading at a premium to the group.
Also, we should mention that ADSK has a PEG ratio of 1.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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 $190.98, moving +1.61% from the previous trading session. This change lagged the S&P 500's 1.97% gain on the day. At the same time, the Dow added 1.88%, and the tech-heavy Nasdaq gained 0.24%.
Heading into today, shares of the design software company had lost 7.32% over the past month, outpacing the Computer and Technology sector's loss of 11.71% and the S&P 500's loss of 9.93% in that time.
Wall Street will be looking for positivity from Autodesk as it approaches its next earnings report date. On that day, Autodesk is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 27.82%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.28 billion, up 13.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.60 per share and revenue of $5.01 billion, which would represent changes of +30.18% and +14.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 0.41% lower. Autodesk is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 28.5. For comparison, its industry has an average Forward P/E of 23.44, which means Autodesk is trading at a premium to the group.
Also, we should mention that ADSK has a PEG ratio of 1.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computer - Software industry currently had an average PEG ratio of 1.88 as of yesterday's close.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 146, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.