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Autodesk (ADSK) Outperforms Broader Market: What You Need to Know
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In the latest market close, Autodesk (ADSK - Free Report) reached $271.16, with a +0.96% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.9%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.
Prior to today's trading, shares of the design software company had gained 6.68% over the past month. This has outpaced the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of Autodesk in its forthcoming earnings report. In that report, analysts expect Autodesk to post earnings of $2.11 per share. This would mark year-over-year growth of 1.93%. Alongside, our most recent consensus estimate is anticipating revenue of $1.56 billion, indicating a 10.51% upward movement from the same quarter last year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $8.24 per share and revenue of $6.11 billion. These results would represent year-over-year changes of +8.42% and +11.07%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Autodesk. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.08% higher within the past month. Autodesk is currently a Zacks Rank #3 (Hold).
In the context of valuation, Autodesk is at present trading with a Forward P/E ratio of 32.59. This indicates a premium in contrast to its industry's Forward P/E of 28.77.
Investors should also note that ADSK has a PEG ratio of 2.37 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 26% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Autodesk (ADSK) Outperforms Broader Market: What You Need to Know
In the latest market close, Autodesk (ADSK - Free Report) reached $271.16, with a +0.96% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.9%. On the other hand, the Dow registered a gain of 0.81%, and the technology-centric Nasdaq increased by 1.22%.
Prior to today's trading, shares of the design software company had gained 6.68% over the past month. This has outpaced the Computer and Technology sector's gain of 5.76% and the S&P 500's gain of 3.15% in that time.
The investment community will be closely monitoring the performance of Autodesk in its forthcoming earnings report. In that report, analysts expect Autodesk to post earnings of $2.11 per share. This would mark year-over-year growth of 1.93%. Alongside, our most recent consensus estimate is anticipating revenue of $1.56 billion, indicating a 10.51% upward movement from the same quarter last year.
ADSK's full-year Zacks Consensus Estimates are calling for earnings of $8.24 per share and revenue of $6.11 billion. These results would represent year-over-year changes of +8.42% and +11.07%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Autodesk. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.08% higher within the past month. Autodesk is currently a Zacks Rank #3 (Hold).
In the context of valuation, Autodesk is at present trading with a Forward P/E ratio of 32.59. This indicates a premium in contrast to its industry's Forward P/E of 28.77.
Investors should also note that ADSK has a PEG ratio of 2.37 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Computer - Software industry had an average PEG ratio of 2.37 as trading concluded yesterday.
The Computer - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 26% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.