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Autodesk (ADSK) Declines More Than Market: Some Information for Investors

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In the latest trading session, Autodesk (ADSK - Free Report) closed at $250.13, marking a -0.39% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.2%. On the other hand, the Dow registered a loss of 0.15%, and the technology-centric Nasdaq decreased by 0.34%.

The design software company's stock has climbed by 2.39% in the past month, exceeding the Computer and Technology sector's gain of 0.96% and the S&P 500's gain of 1.93%.

Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company's earnings report is set to go public on August 29, 2024. 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 full year, the Zacks Consensus Estimates project earnings of $8.11 per share and a revenue of $6.04 billion, demonstrating changes of +6.71% and +9.96%, respectively, from the preceding year.

Any recent changes to analyst estimates for Autodesk should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Autodesk holds a Zacks Rank of #3 (Hold).

Digging into valuation, Autodesk currently has a Forward P/E ratio of 30.96. This expresses no noticeable deviation compared to the average Forward P/E of 30.96 of its industry.

Meanwhile, ADSK's PEG ratio is currently 2.3. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer - Software stocks are, on average, holding a PEG ratio of 2.36 based on yesterday's closing prices.

The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 72, which puts it in the top 29% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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