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Autodesk (ADSK) Rises Higher Than Market: Key Facts
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The most recent trading session ended with Autodesk (ADSK - Free Report) standing at $246.22, reflecting a +0.66% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 0.03%.
Prior to today's trading, shares of the design software company had lost 3.63% over the past month. This has was narrower than the Computer and Technology sector's loss of 7.5% and lagged the S&P 500's loss of 3.2% in that time.
The investment community will be closely monitoring the performance of Autodesk in its forthcoming earnings report. The company is scheduled to release its earnings on August 29, 2024. On that day, Autodesk is projected to report earnings of $2 per share, which would represent year-over-year growth of 4.71%. At the same time, our most recent consensus estimate is projecting a revenue of $1.48 billion, reflecting a 10.2% rise from the equivalent quarter last 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 pay attention to any latest changes in analyst estimates for Autodesk. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Autodesk is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 30.16. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 30.16.
We can also see that ADSK currently has a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Computer - Software industry stood at 2.28 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Autodesk (ADSK) Rises Higher Than Market: Key Facts
The most recent trading session ended with Autodesk (ADSK - Free Report) standing at $246.22, reflecting a +0.66% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.38%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 0.03%.
Prior to today's trading, shares of the design software company had lost 3.63% over the past month. This has was narrower than the Computer and Technology sector's loss of 7.5% and lagged the S&P 500's loss of 3.2% in that time.
The investment community will be closely monitoring the performance of Autodesk in its forthcoming earnings report. The company is scheduled to release its earnings on August 29, 2024. On that day, Autodesk is projected to report earnings of $2 per share, which would represent year-over-year growth of 4.71%. At the same time, our most recent consensus estimate is projecting a revenue of $1.48 billion, reflecting a 10.2% rise from the equivalent quarter last 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 pay attention to any latest changes in analyst estimates for Autodesk. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Autodesk is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Autodesk is currently trading at a Forward P/E ratio of 30.16. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 30.16.
We can also see that ADSK currently has a PEG ratio of 2.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Computer - Software industry stood at 2.28 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.