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Why the Market Dipped But Autodesk (ADSK) Gained Today
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Autodesk (ADSK - Free Report) closed at $246.23 in the latest trading session, marking a +0.4% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The design software company's stock has climbed by 2.55% in the past month, exceeding the Computer and Technology sector's gain of 0.47% and the S&P 500's gain of 1.96%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. On that day, Autodesk is projected to report earnings of $2 per share, which would represent year-over-year growth of 4.71%. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 10.2% from the prior-year quarter.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $8.11 per share and revenue of $6.04 billion. These results would represent year-over-year changes of +6.71% and +9.96%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, Autodesk possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Autodesk is currently exchanging hands at a Forward P/E ratio of 30.24. This signifies no noticeable deviation in comparison to the average Forward P/E of 30.24 for its industry.
Also, we should mention that ADSK has a PEG ratio of 2.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.47 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But Autodesk (ADSK) Gained Today
Autodesk (ADSK - Free Report) closed at $246.23 in the latest trading session, marking a +0.4% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
The design software company's stock has climbed by 2.55% in the past month, exceeding the Computer and Technology sector's gain of 0.47% and the S&P 500's gain of 1.96%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. On that day, Autodesk is projected to report earnings of $2 per share, which would represent year-over-year growth of 4.71%. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 10.2% from the prior-year quarter.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $8.11 per share and revenue of $6.04 billion. These results would represent year-over-year changes of +6.71% and +9.96%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Autodesk. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, Autodesk possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Autodesk is currently exchanging hands at a Forward P/E ratio of 30.24. This signifies no noticeable deviation in comparison to the average Forward P/E of 30.24 for its industry.
Also, we should mention that ADSK has a PEG ratio of 2.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer - Software was holding an average PEG ratio of 2.47 at yesterday's closing price.
The Computer - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.