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Autodesk (ADSK) Rises Higher Than Market: Key Facts
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Autodesk (ADSK - Free Report) closed the most recent trading day at $242.58, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
Coming into today, shares of the design software company had lost 2.66% in the past month. In that same time, the Computer and Technology sector lost 4.62%, while the S&P 500 lost 0.21%.
Market participants will be closely following the financial results of Autodesk in its upcoming release. It is anticipated that the company will report an EPS of $2, marking a 4.71% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.48 billion, indicating a 10.2% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.11 per share and a revenue of $6.04 billion, representing changes of +6.71% and +9.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Autodesk. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Autodesk boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Autodesk is currently being traded at a Forward P/E ratio of 29.7. This indicates a discount in contrast to its industry's Forward P/E of 29.87.
Also, we should mention that ADSK has a PEG ratio of 2.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.41 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 38% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Autodesk (ADSK) Rises Higher Than Market: Key Facts
Autodesk (ADSK - Free Report) closed the most recent trading day at $242.58, moving +0.71% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.08%. On the other hand, the Dow registered a loss of 0.12%, and the technology-centric Nasdaq increased by 0.07%.
Coming into today, shares of the design software company had lost 2.66% in the past month. In that same time, the Computer and Technology sector lost 4.62%, while the S&P 500 lost 0.21%.
Market participants will be closely following the financial results of Autodesk in its upcoming release. It is anticipated that the company will report an EPS of $2, marking a 4.71% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.48 billion, indicating a 10.2% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $8.11 per share and a revenue of $6.04 billion, representing changes of +6.71% and +9.96%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Autodesk. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Autodesk boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Autodesk is currently being traded at a Forward P/E ratio of 29.7. This indicates a discount in contrast to its industry's Forward P/E of 29.87.
Also, we should mention that ADSK has a PEG ratio of 2.2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Software stocks are, on average, holding a PEG ratio of 2.41 based on yesterday's closing prices.
The Computer - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 38% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.