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Autodesk (ADSK) Stock Moves -0.71%: What You Should Know
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Autodesk (ADSK - Free Report) closed at $232.57 in the latest trading session, marking a -0.71% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Heading into today, shares of the design software company had lost 3.99% over the past month, outpacing the Computer and Technology sector's loss of 12.91% and the S&P 500's loss of 5.85% in that time.
The investment community will be paying close attention to the earnings performance of Autodesk in its upcoming release. The company is slated to reveal its earnings on August 29, 2024. The company is predicted to post an EPS of $2, indicating a 4.71% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.48 billion, indicating a 10.2% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.11 per share and revenue of $6.04 billion, indicating changes of +6.71% and +9.96%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Autodesk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Autodesk possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Autodesk has a Forward P/E ratio of 28.88 right now. This represents no noticeable deviation compared to its industry's average Forward P/E of 28.88.
One should further note that ADSK currently holds a PEG ratio of 2.14. 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 was holding an average PEG ratio of 2.21 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 102, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Stock Moves -0.71%: What You Should Know
Autodesk (ADSK - Free Report) closed at $232.57 in the latest trading session, marking a -0.71% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.6%, while the tech-heavy Nasdaq lost 1.05%.
Heading into today, shares of the design software company had lost 3.99% over the past month, outpacing the Computer and Technology sector's loss of 12.91% and the S&P 500's loss of 5.85% in that time.
The investment community will be paying close attention to the earnings performance of Autodesk in its upcoming release. The company is slated to reveal its earnings on August 29, 2024. The company is predicted to post an EPS of $2, indicating a 4.71% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.48 billion, indicating a 10.2% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $8.11 per share and revenue of $6.04 billion, indicating changes of +6.71% and +9.96%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Autodesk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, Autodesk possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Autodesk has a Forward P/E ratio of 28.88 right now. This represents no noticeable deviation compared to its industry's average Forward P/E of 28.88.
One should further note that ADSK currently holds a PEG ratio of 2.14. 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 was holding an average PEG ratio of 2.21 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 102, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.