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Why Autodesk (ADSK) Dipped More Than Broader Market Today
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In the latest market close, Autodesk (ADSK - Free Report) reached $271.90, with a -0.53% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.13%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.39%.
Shares of the design software company have appreciated by 5.86% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.10, reflecting a 1.45% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.56 billion, up 10.51% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.24 per share and revenue of $6.11 billion. These totals would mark changes of +8.42% and +11.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Autodesk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 past month, the Zacks Consensus EPS estimate has shifted 3.15% upward. Autodesk is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Autodesk is presently being traded at a Forward P/E ratio of 33.19. This expresses a premium compared to the average Forward P/E of 29.17 of its industry.
It is also worth noting that ADSK currently has a PEG ratio of 2.42. 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 average PEG ratio for the Computer - Software industry stood at 2.44 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADSK in the coming trading sessions, be sure to utilize Zacks.com.
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Why Autodesk (ADSK) Dipped More Than Broader Market Today
In the latest market close, Autodesk (ADSK - Free Report) reached $271.90, with a -0.53% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.13%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 0.39%.
Shares of the design software company have appreciated by 5.86% over the course of the past month, outperforming the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%.
Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.10, reflecting a 1.45% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.56 billion, up 10.51% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.24 per share and revenue of $6.11 billion. These totals would mark changes of +8.42% and +11.07%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Autodesk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 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 past month, the Zacks Consensus EPS estimate has shifted 3.15% upward. Autodesk is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Autodesk is presently being traded at a Forward P/E ratio of 33.19. This expresses a premium compared to the average Forward P/E of 29.17 of its industry.
It is also worth noting that ADSK currently has a PEG ratio of 2.42. 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 average PEG ratio for the Computer - Software industry stood at 2.44 at the close of the market yesterday.
The Computer - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADSK in the coming trading sessions, be sure to utilize Zacks.com.